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"From the perspective of using the (loan extension) tool, it has achieved the effect that we desired," said Gao Fei, deputy head of the PBOC's financial markets department.

"For example, Porsche won the most famous motor sport race in Le Mans for the last three years with a hybrid engine, and a lot of this technology we transferred to our Panamera for example, and now to the new Cayenne, and so Porsche has very big credibility in electro-mobility."

"For multinational corporations, more decentralized decision-making at the country level, faster rollout of products, and more localized endeavors to stay tuned to customers' needs are some of the decisive factors for their outperformance," Jason Yu, managing director of Kantar Worldpanel and one of the authors of the report, said. For instance, the role of e-commerce has moved from the periphery to the forefront in many businesses of multinational brands in China.

"Going forward, our youth will always be the builders, pioneers, and defenders of the China-ASEAN regional community," Zhang added.

"Guangdong's future development will rely on technological innovation. The construction of the Greater Bay Area will also help bring more opportunities for local business in the allocation of global innovation resources," Zhu said.