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He recalled a 2004 speech by the CEO of General Motors, in which the executive said that the size of Chinese auto market was only one third or one fourth of the US one at that time, but is expected to outgrow the US one by the year of 2030.

He promised to continue to facilitate investment and the ongoing development projects in the country.

He said shadow banking in China could be concern, but not crisis, and still manageable.

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He said people naturally are tense, after the double blows of social unrest and the COVID-19 pandemic. They fear the unknown, he said, but law-abiding residents have nothing to worry about.

He said more digital solutions and sensors are being used on a large scale in Chinese factories. Carried out by industrial robots, the manufacturing process does not require human intervention.

He reiterated that Iran will continue to commit to solving related issues through dialogue and coordination.

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He said that in carrying out reform, government must create an enabling market, and let market perform its decisive role in allocating resources.

He said Tibet is currently working toward the goal of building a moderately prosperous society in all respects, along with the rest of the nation, to achieve a thriving social environment and have people of all ethnic groups living and working in peace and contentment in the region.

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He said that the GDP growth rate for the second quarter may be around 3 percent.

He said one of the reasons for the popularity of digital payments in China is that the country doesn't have large credit card companies trying to maintain market share. As a result, China was able to create a new type of payment infrastructure from scratch, Schulte said.