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The Beijing-Xiongan rail route will connect Xiongan New Area with Beijing's planned second airport, 55 kilometers to the north of Xiongan.

The Belt and Road Initiative has transformed Xi'an, capital of Northwest China's Shaanxi province, into a manufacturing and service hub for the initiative as well as a hot spot in attracting foreign direct investment, said officials and experts.

The C919 is scheduled to go through about 729 test projects and 4,200 hours of flight before it obtains the certificate from the Civil Aviation Administration of China. Such a step is imperative for it to enter the commercial market, according to the Commercial Aircraft Corp of China, the C919's manufacturer.

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The Bretton Woods system was based on the primacy of the US dollar, but Jacques believes that with countries such as China supporting cryptocurrencies, which could become global reserve currencies of the future, the dollar's days may be numbered.

The CIRC vowed to clamp down on illegal financing and equity investment by insurers, irrational mergers and acquisitions, speculative trading of stocks, radical investment in real estate through highly-leveraged and structured financial products as well as illegal overseas investment.

The CAICT predicted that 5G will drive 6.3 trillion yuan (6.8 billion) of economic output in China by 2030.

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The C919's latest test flight comes at a time when its competitor Boeing's B737 MAX jets remain grounded worldwide following two fatal crashes, which killed a total of 346 people－on Oct 29 last year in Indonesia and March 10 in Ethiopia.

The Belt and Road Energy Partnership was officially established in Beijing on Thursday with a ceremony attended by energy ministers, ambassadors to China and high-level representatives of energy authorities from 30 participating countries and five observer countries.

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The CASS research report said further attention is necessary to tame deflation risks, especially those from the industrial sector, because further weakening of the PPI may lead to a fall in the return on capital of companies, reduce asset values and increase debt pressure. Hence, banks may become more cautious in lending money to companies, and increase interest rates.

The Bay Area comprises Hong Kong, Macao and nine cities in Guangdong, including Guangzhou, Shenzhen, Zhuhai, Jiangmen and Zhaoqing.