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"Foreigners living in China also buy the English couplets to celebrate the festival, but my English is not good enough to talk with them," said the 33-year-old Beijinger.

"Globalization and China's own policies have been highly complementary and mutually beneficial. We need to recognize this to fully understand China's commitment to globalization and the new round of the reform and opening up today," he said.

"GIFT IFSC provides huge competitive advantage in terms of tax structure and supportive regulatory framework which is comparable with other global financial centers," he said, adding that other advantages include the waiver of taxes such as the security transaction, commodity transaction, dividend distribution and capital gains taxes, as well as the goods and services tax.

"Foreign investors ignore onshore trading opportunities at their peril," he said in an email.

"For example, my study found that the Japanese 10th Army had been burning, killing and pillaging Chinese since it landed in Shanghai - unlike some scholars who have defended the idea that the troops always maintained their discipline."