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"China is a key and huge market for UBS, and the further opening-up of China's financial sector represents great opportunities for our businesses, including investment banking, wealth management and asset management," UBS said.

"China is shifting toward a floating exchange rate regime, and we allow the exchange rate of the yuan to be determined by market demand and supply," Yu said.

"But public reaction on such misconduct has proved to be a more serious deterrent, though there is no regulatory punishment," she said.

"China has an enormous potential market and a fast-growing middle-income group," he said. "The country will further enhance opening-up to contribute to the world economy growth."

"China is heavily engaged in handling financial deleveraging reform, which includes the reducing of corporate debt, especially for the State-owned ones with overcapacity," said Iris Pang, an economist with banking group ING.