"As long as China is determined to embrace the change, instead of being scared of it, it will succeed in transitioning the economy into a third industrial revolution."

Jeremy Rifkin, author of the best-selling book The Third Industrial Revolution, saying that Chinese leaders have paid great attention to green development and even wrote it into the Party constitution amendment last November. He expressed hope that China would continue to push ahead with such moves.

"Trade unions play a crucial role in ensuring better balance of distribution and redistribution. It is paramount that trade unions become effective in conducting collective bargaining."

Youngmo Yoon, a senior specialist on industrial relations and social dialogue at the International Labour Organization's office in Beijing, says wage increases and productivity improvements should go hand-in-hand in China. This is particularly important as China plans to shift from an export dependent economy to consumption-based economic development, he says.

"It is meant to compare how the financial industry is evolving and progressing in these markets. Shanghai achieved more in the past six years, but Singapore, Hong Kong and Mumbai showed a stronger growth trend in the first half of 2013."

David Ye, partner and vice-president of strategic consultancy firm Roland Berger, saying that the financial markets in Shanghai maintained relatively fast development in the first half of 2013 due to the booming fund, gold and insurance market. He says the city's financial industry is in good shape to grow further.

(China Daily European Weekly 10/25/2013 page18)