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He also reiterated the issue of a 5 billion US trade deficit with China, saying "so we started a process and we'll see how it ends up. But we're going to win."

He added that although violent groups in the country had threatened to carry out acts of vandalism to keep some polling stations closed, there were no incidents and all polling centers remained open.

He also expressed hope that Hong Kong's youth will foster a sense of national identity, a love for Hong Kong and an international perspective, and make their future as they partake in the development of the country and the SAR.

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He added that increasing the use of nuclear power in place of coal will have a substantial positive benefit on the environment.

He also said that one of the key jobs for financial regulators is to build a comprehensive supervision system, both online and offline, to tighten controls on capital flows, both internally and across the border.

Having decided to improve the situation, Liu saw the answer in a children's music CD from US. "It was so good, I was inspired to bring them to China to tour. Then we realized that there are so many great bands for kids all over the world and the idea for the festival was born," he said.

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He added that for the next month, three or four typhoons are expected to be generated in the Northwest Pacific and the South China Sea, fewer than the five typhoons during the same period in previous years. For the next 10 days, the inactive low-pressure system in the tropical region will lessen the likelihood of a typhoon landing on the Chinese mainland.

He Zhenwei, secretary-general of the China Overseas Development Association, delivers a speech at a news conference held July 5. [Photo provided to chinadaily.com.cn]

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He added that the city will also use the Belt and Road Initiative to optimize its next step in plans for opening-up, increasing its ability to influence surrounding regions and integrating resources.

He also highlighted that financial institutions and enterprises should increase risk awareness and strengthen risk management.