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"Hainan will further expand its connections with countries and regions participating in the Belt and Road Initiative to open itself further," Shen Xiaoming, governor of Hainan, said on Monday during a panel discussion at the four-day Boao Forum for Asia Annual Conference 2018, which closed on Wednesday.

"Governments across the world, including in both China and the UK, are actively exploring the potential to develop, harness, and apply distributed ledger technologies to a wider range of problems and scenarios," said Hedley, who noted that blockchain also appeared in China's 13th Five-Year Plan (2016-20) and has benefitted from more than 0 billion of Chinese investment.

"For example, in Shanghai, we invite professors to speak about the folk customs and history of the old city. It's not always about promoting books, but to add a cultural atmosphere to the bookstore. We are also building up a social circle for our readers with the same interests," Zhang said.

"For a company to become internationally competitive, the question is not whether or not to expand its business overseas through M&As, but when to make the move," said Jiao.

"Gansu has long been a stronghold on the ancient Silk Road. It connects East and West and provides an important path for cultural and economic exchanges," said Wang Zhile, a senior researcher at the Chinese Academy of International Trade and Economic Cooperation in Beijing.