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"Efforts to transform traditional industries and nurture emerging sectors are of significance to China," said Wang Peng, deputy president of the China Center for Information Industry Development, a government think tank.

"Despite Abe and Moon having had a 'friendly and serious' talk, substantial improvement in deeply frayed bilateral ties is unlikely as no one would want to run the risk of compromising because it will provoke a backlash at home," said Yu Qiang, an associate professor at the University of International Relations in Beijing.

"Facing ongoing international trade uncertainties, many countries are considering gold a hedge against the US dollar," said Wang Shuli, executive board director for Jingyijinhui, a consulting firm on gold, adding that the trend has pushed up gold prices to some extent.

"Even though we are starting to branch out to bigger areas, at a core, we are still a small, close-knit community. The majority have gone to school with each other; people who grow up here have become teachers. Families know each other," he said.

"Domestically, it will break down barriers for fair market competition and help build a unified domestic market. Globally, it has shown the government's determination to build an open economy and foster a better business environment to attract more foreign investors."