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Private enterprises play a vital role in China's economic development, contributing 50 percent of fiscal revenue, 60 percent of GDP, 70 percent of technical innovation, 80 percent of urban employment, and 90 percent of total enterprises and newly-added employment, said Liu Shijin, a member of the National Committee of the Chinese People's Political Consultative Conference, at a press conference during this year's two sessions legislative meeting.

Procedures were also simplified for foreign lenders to set up new branches, appoint executives and issue bonds.

Prime Minister Mark Rutte,

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Professor Wang Kao-cheng from Tamkang University said the new package opened a new door for young people in Taiwan seeking jobs.

Private enterprises play a vital role in China's economic development, contributing 50 percent of fiscal revenue, 60 percent of GDP, 70 percent of technical innovation, 80 percent of urban employment, and 90 percent of total enterprises and newly-added employment, Liu said.

Prime Minister Chung Sye-kyun said restrictions would be tightened on gatherings and activities seen as prone to virus transmission, especially in the capital Seoul and surrounding urban areas.

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Previously, China's socialized nursing home care services were mainly aimed at orphans and disabled children under the age of 16, as well as elderly people over 60, said Feng Shanwei, a researcher at the China Disabled Persons' Federation (CDPF).

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Progress has also been reported on the other four fronts, including deleveraging, destocking, lowering costs and enhancing weak links.

President Xi Jinping's visit to the South Asian country in April 2015 placed Gwadar Port and the economic corridor high on the agenda.