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Any entry by foreign card giants would, however, have only a minor impact in the short run, experts said.

Antonio Campinos, president of the European Patent Office, said: "Our study shows that Chinese innovation in the field of fourth industrial revolution technologies has increased greatly. China has displayed, by far, the fastest growth of all major innovation centers around the world. Its universities, businesses, and regional hubs are becoming increasingly important players in the global 4IR innovation landscape."

Anyone who wants to ride their own horse on the path should do so during operation hours and will be responsible for their own safety.

Anwar Abu Sbaitan, senior executive officer of Kuwait-based asset management firm Kamco, said that the UAE and Saudi Arabia represent 75 percent of the GDP in the GCC countries, hence foreign banks have to run a presence here to bank on the region's prospects.

Another key cooperation with the Chinese monetary authority could be in the green economy area, said Chakrabarti, without disclosing details.