He returned to Ningxia twice to perfect his creation.
He revealed that UNWTO and a number of tourism ministers from the Middle East discussed at the meetings ways to boost tourism sector and to attract more tourists to the region.
He said that foreign life insurers and property and casualty insurers contributed less than 7 percent of China's premium income due to insufficient localization, cultural differences and regulatory restrictions.
He reiterated that China has not, and will not, engage in "economic aggression". On the contrary, China hopes to share opportunities with all its economic and trade partners and grow together with them to boost world economic growth.
He said he has a different perspective on the Chinese economy than economists because of his financial specialization and his experience as a Wall Street trader-he headed Latin American capital markets for global investment bank Bear Stearns before coming to China in 2002.
He said China is part of the conversation that aims to change or update "the way that the regular bodies of the WTO work, with more transparency, with more notification."
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He said that at the scenes of police operations on illegal protesters, there have been fake reporters in the crowds. As there were also genuine reporters and bystanders between police officers and the protesters, they caused problems to police operations as officers need to get through several layers of people to reach the protesters.
He said he "does not care" about the personal attacks, but said that when the whole African community is insulted, he won't tolerate it.
He said reform of renminbi exchange rate formation mechanism should be pushed forward at the time when the renminbi exchange rate is stable; currently, it is still fluctuating. If the mechanism is changed, a big tumble or jump in the exchange rate could damage the nation's economy, he said.
He referred to the emerging cosmetics brand Marie Dalgar, which teamed up with KFC on campaigns and advertising endeavors, pulling in traffic from the fast food brand's huge consumer base. The joint campaign helped Marie Dalgar to attract 1.4 million visits to its official store on the Tmall e-commerce platform, and it raked in 12 million yuan in sales.