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The Chinese central bank's measures to support smaller enterprises will help cushion the downside risks in economic activity by facilitating the flow of credit to market entities and ensuring job security, analysts said.

The Chinese government subsequently established four special economic zones in 1980 based on the Shannon model. These became a major driving force for China's economy, allowing private investment to flow into the country and a huge transfer of skills and technology to take place.

The China-initiated Asian Infrastructure Investment Bank celebrated its third anniversary in December. Over the past three years, the lender has approved financing worth billion for development projects in Asia and Africa, with the aim of promoting sustainable economic development through infrastructure investment.

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The Chinese ambassador also hailed the Elion-Verhoeve deal as a "new case of win-win cooperation between Chinese and Dutch enterprises."

The Chinese government has vowed to lift all the rural impoverished out of poverty by 2020 to build a moderately prosperous society.

The Canton Fair, officially known as China Import and Export Fair, claims to be the world's largest such exhibition, where more than 24,000 exporters and 196,000 buyers, mostly foreign, ink deals in booths spanning exhibition space equivalent to 2,500 basketball courts.

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The Chinese laser equipment industry has relied on imports in the past, but domestic companies have grown stronger in recent years.

The Chinese currency presently rates fifth in the list of currencies held by central banks as foreign exchange reserves. At home, however, authorities in Beijing are pushing reforms to widen market access for financial institutions as part of an effort to increase the Chinese capital's financial influence.

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The Chinese diplomat Yu Benlin delivered a statement at the WTO, outlining China's concerns regarding the US Section 301 conclusions on China's alleged violations of intellectual property rights and proposed measures, including imposing additional tariffs on Chinese imports.

The Chinese Academy of Sciences and Tsinghua University have set up research organs in the city too.