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Apart from stepping up efforts to analyze, evaluate and supervise financial innovation, regulators must follow the development trends and the level of impact of financial innovation to identify hidden risks in a timely manner and take necessary measures. At the same time, China's regulatory authorities should strengthen communication with their international counterparts to explore ways to improve regulation, shore up weak regulatory links, and continue to focus on the prevention and mitigation of financial risks, she added.

Another 25.2 percent of the overall projects are in high-tech, a much lower percentage than for social development projects, yet they will receive 4.4 billion yuan - close to the amount for social development.

Another judge, Ozan Isinak, president of Keiretsu Forum Canada, said the competition has reached the point where it could actually result in actual transactions and business deals with partners in China.

Another child Make-A-Wish Shanghai helped was Xiaohao, a 6-year-old boy who suffers from leukemia. The organization helped arrange a meeting between him and his favorite fictional hero Ultraman, the main character of a Japanese science fiction television series of the same name.

Anzetse Were, a development economist, says joint partnerships with Chinese manufacturers will build the country's technical and technological capacity. However, Kenya needs to make deliberate plans in building ecosystems that encourages manufacturing, Were says.