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"China underwent radical reforms three decades ago as it was opening-up. Africa can replicate this success, too," he said.

"Coupa is focusing on building a platform to enable companies to spend smarter. On the other side, KPMG focuses on implementation services. And we have a deep understanding of the industry-related business process and procurement processes globally, but also in China", said Michael Seitz, a partner at KPMG China.

"Competition among global cities lies in both their influence on the world and the opportunities they offer for development. We hope the report sheds light on the governmental plans in technology and talent attraction," said Wang Xueying, associate researcher at the institute.

"Companies in these regions, especially those on the east coast, are active in producing and selling fake products," Chai said.

"Clearly, we have much to do. Shandong Gold's presence in Toronto will help foster new relationships and better understanding of Chinese investors by Western investors and operators. It will add value to the collaboration our two companies are forging," Krcmarov added.