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"Consumers may think UnionPay was too slow and trailing Alipay and WeChat Pay. But, UnionPay launched QR code-based payments only after the authorities officially approved such mobile payment systems," said Liu Fei, a retail sector researcher with Shanghai Mingshan Consulting.

"Countries and regions participating in the initiative are different economically. It is unrealistic to solve all the financing problems on infrastructure construction through one common model," he said.

"Combined with the effect of lower corporate tax, we believe it will encourage overseas US firms to send back their profit. It may even produce a wave of profit repatriation," said Professor Zhu Qing with the School of Finance at Renmin University of China.

"Creative products of museums have largely been a foreign concept and do not have a long history in China. Though many museums and galleries have been selling and developing products, they were more like souvenirs and not real cultural products," said Gao Yang, head of the art innovation center of the National Art Museum of China.

"Couldn't be happier," Hoskins said.