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"China-Singapore relations have maintained a good momentum of development, and I hope the institute will deepen the opening-up of China's education to the world, and contribute to Singapore's development as well as the future of all mankind," says Hong Xiaoyong, the Chinese ambassador in Singapore.

"China, more than other emerging markets, has the ability to manage its own future, at least within the confines of its domestic financial system and the domestic economy," said Alastair Wilson, Moody's head of global sovereign rating.

"Cities are vying for talent because people don't frequently change cities and jobs. Slow movers will likely miss a great future if they don't make the most of the current opportunities," says Lian Tao, co-founder of Xiaozhu, a Chinese home-sharing platform.

"Conducting such a competition can help promote ethnic traditional culture in one way and on the other hand, it provides the monks and nuns a stage for exchanges and communications. We will conduct similar activities in the future to help raise monks' interest in learning," he said.

"Continuing to implement tax cuts and fee reductions for companies, particularly for the manufacturing sector, will help reduce their burden and bring more benefits. The measure will also guide enterprises to increase investments in research and development and promote the transformation and development of the sector," Zhang Yiqun, deputy director of the China Special Committee on Budget Performance, was quoted in a report by the Securities Daily.