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The countries have openly politicized human rights issues and brutally interfered in China's domestic affairs, he said.

The cooperation with the World Bank could mobilize participation of more MDBs, private sectors and other funding sources, and create all-win solutions, said Shi.

The country has taken the lead globally in the prevention and control of the COVID-19 epidemic, work and production resumption, and economic recovery. Recent studies revealed that the Chinese economy has maintained strong momentum, as policies are taking effect and restoring confidence in the markets, said Liu Guoqiang, deputy governor of the People's Bank of China, the central bank.

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The conference emphasized that tax authorities at all levels should take the implementation of tax reduction and fee reduction policies as the priority of this year's tax work to further reduce the burden on enterprises.

The country's Party committees at all levels should support the political and legal departments in fulfilling their duties in line with the law and addressing problems in political and legal matters, Xi said.

The consultation was made to discuss the disarmament of the JSA, which was agreed upon by defense chiefs of the ROK and the DPRK during the Pyongyang summit in September between the ROK President Moon Jae-in and top DPRK leader Kim Jong-un.

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The construction of infrastructure such as charging and battery swapping stations will be stepped up, and the development of a public charging network featuring fast charging services along highways and in urban and rural areas will be sped up, the Cabinet said.

The country achieved its goal of around 6.5 percent GDP growth set for 2018.

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The country is also beefing up wider opening-up to foreign investment. Revision of the negative list on foreign investment is underway as part of the plan to shorten the negative list and expand the catalog of industries where foreign investment is encouraged.

The contest attracted the participation of more than 50 global and domestic teams that were selected to make presentations to a full panel of industry experts and market leaders in China.