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Anton Muscatelli, chairman of the Russell Group, a body representing 24 research universities in the UK, said overseas students could soon comprise up to 50 percent of the student body at many British institutions. This would most likely involve heavy recruitment from India and China, he added.

Ant Financial is China's biggest internet-finance conglomerate, with its online payment and escrow service, a money-market fund, a credit-rating system and an internet bank. It has set a target of having 2 billion customers globally over the next decade.

Apart from technology collaboration, the two companies will further enhance financial cooperation such as developing investment and financial businesses by participating in each other's initiatives to absorb investors and setting up a fund, the agreement said.

Another industry organization, the China Association of Automobile Manufacturers, had the same estimate. Its executive vice-president Fu Bingfeng told Reuters that the fall could reach 10 percent in the first half of the year.

Another win was a big investment in the state's paper industry - St. Croix Tissue in Baileyville got 0 million from International Grand Investment Corp, the US branch of a Chinese investment firm.