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As for the China property market itself, many global property giants such as Country Garden operate here. Country Garden's sales surpassed 500 billion yuan (.4 billion) last year.

As a new channel to address housing difficulties for young staff, apartments for long-term rent attracted an increasing number of property developers. Industry insiders said the number of such apartments accounted for two to three percent of the country's rental market, while the proportion in the developed market usually hovers around 20 to 30 percent, indicating huge growth potential.

As an internationally renowned instrumentalist of the pipa (a plucked string instrument with a fretted fingerboard), Wu Man for decades has spared no effort in promoting the traditional Chinese musical instrument throughout the world. Given her virtuosity and collaborations across disciplines, she has been nominated several times for the Grammy Award for Best Instrumental Soloist Performance (with orchestra) and Best World Music Album. Her performances, with musicians from various countries, have captured the hearts of numerous music enthusiasts from around the world.

As bilateral cooperation heats between the two countries, diplomatic rapport has also been on the rise.

As bank's first chief economist, Li will play a leading role in the bank's overall operations in research and analysis of economic, financial, infrastructure and development issues across member countries, the statement said.