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However, Wei noted that blockchain technology is at an early stage of development.

However, I expect China's GDP to grow by 6 percent year-on-year in the third quarter and 7 percent in the fourth quarter. With the waning of the pandemic and China's economic rebound, we are not very likely to see marginal relaxation of the monetary policy in the second half, unless a massive second wave of COVID-19 takes place.

Houston Mayor Sylvester Turner said at the same event the ICBC serves to connect the Texas market with China and increase cooperation between Houston and Chinese financial institutions.

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However, financial institutions' risk appetite has also changed as they prefer more safe and short-term lending under tight regulation. State-owned companies, usually with an implicit guarantee by local governments, are their priorities to issue loans to rather than private and small companies, said experts.

However, Chinese enterprises are changing this situation as they seek to collaborate with local universities. In 2016, the Kenya-China Economic and Trade Association, the Kenya Chinese Chamber of Commerce and the Confucius Institute at the University of Nairobi launched job fairs for Kenyan students.

Hou Enlong, president of online-to-offline retailer Suning Co that is based in Nanjing, Jiangsu province, believes rising demand for imported fresh produce will be one of the bright spots for retailers during this year's Spring Festival.

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However, improving coverage will bolster consumer confidence and help the country's efforts to foster a new development pattern.

However, Li said that there is a silver lining. The aging curve will flatten a bit, which, coupled with continuous socioeconomic progress, will create a "window" for policymakers.

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However, a government-commissioned panel on Wednesday offered a mixed assessment of the ice wall, saying it was partially effective but more steps were needed.

Hong said a more favorable policy environment for securities firms would further vitalize the market, as that would help strengthen the firms' ability to match demand (for finance) and supply.