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Anta Sports signs a deal on Thursday to becomes the official sports apparel sponsor for the 2022 Olympic and Paralympics Winter Games. [Photo by Wang Zhuangfei/China Daily]

Another executive at a British-Dutch transnational consumer conglomerate agreed.

Another breakthrough in the rule of law in recent years was the adoption of the country's first Supervision Law in March 2018 — and the establishment of supervisory commissions across the country — which improved the country's supervisory system and intensified the fight against corruption.

Apart from brick-and-mortar stores, Chinese customers can buy products via online platforms such as the official WeChat account of Longchamp. "It is our plan to continue developing online channels in China," Cassegrain said.

Apart from the large number of financial institutions and 300,000 financial professionals, the favorable policies rolled out by Pudong and the municipal government have helped with the prosperity of the financial sector, Leung said.