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"China is of strategic importance to Standard Chartered. We are honored to be the first international bank to be granted this license," said Bill Winters, group chief executive of Standard Chartered."China is already being recognized as a major financial market. We are excited to be part of this process as we work closely to support our clients in their custody needs."

"Capital market functions will be impaired without the registration-based IPO mechanism and hence would not be able to serve technology startups with high efficiency. Therefore, efforts should be made to push forward this very basic mechanism of the capital market. But at the same time, progress should be made with no haste, allowing the capital market to mature and accept the wider adoption of the mechanism as well as the completion of related policies," he said.

"China is a true friend of the Philippines because you are giving happiness to the Filipinos, especially to the less-privileged people who live in the remote community," Ranque said.

"But today, we are open and receptive to what the consumers have to say because we belong to them," Seth said.

"Caoqiao will continue this premium policy for the elders, and the amount will increase further in accordance with village revenue," said Sun Wentao, director of the village's publicity office.