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"China is making rapid progress in pushing forward the new board, which features the registration system, thanks to the sufficient preparation gradually done before," said Li Ye, an analyst with Shenzhen-based Great Wall Securities.

"China hopes the two sides will cherish the positive progress made during this period of time, maintain patience, exchange goodwill, and move toward each other," Foreign Ministry spokesman Lu Kang said on Friday when commenting on Washington's abrupt withdrawal from a summit with DPRK top leader Kim Jong-un.

"China is an important market for Nomura, and Lu Ting's appointment is further evidence of our commitment to building up our China expertise," said Toshiyasu Iiyama, Nomura's executive chairman, Asia ex-Japan, and head of China Committee in a statement.

"By putting the funds into special accounts designated by the central bank, the payment firms can no longer earn interest on the reserved funds. Meanwhile their bargaining power with banks will be greatly affected," he said.

"By 2020, there will be 50 billion connections. It will demand tremendous computing capability. Our years of experience in processing data will give us an edge in the future," said Wu, the Intel Fellow, who also heads Intel’s delegation to the 3rd Generation Partnership Project (3GPP), an industry coalition dedicated to global wireless communication standards.