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He has argued that it is wrong to view urbanization as driving the country's growth, because it would only build up debt if it did not produce economic returns.

He cited Singapore's and Malaysia's agreement, and noted that the two countries' synchronization process will be "highly iterative". Both countries will be sharing their respective data, insights and experiences to learn from each other. "It might look messy, but there is no choice. Every country is learning and evolving with new knowledge," Lim said.

He listed five misconceptions: trade deficits are bad; trade balances reflect trade policies; trade deficits always lead to job loss and slower growth; trade performance is the most important reason for the long-run decline in US employment in manufacturing; and bilateral trade between countries should be balanced.

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He believes a "big special administration region" could help solve problems like his.

He explained that it is an important "milestone" in the implementation of the "one country, two systems" ideal because it powerfully supports the sustained implementation of the principle.

He called on them to be willing to take the lead, perform duties with dedication, counter challenges head-on, seek new progress through pioneering and persistent efforts, and observe the discipline strictly.

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He made the remarks at a news conference on the Fifth Plenary Session of the 19th Central Committee of the Communist Party of China, which outlined key guidelines for China's future development plans.

He made the remarks in a speech at the HEC Liege, the management school at the University of Liege.

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He made the remarks at a meeting held by the China Association for Consumer Products Quality and Safety Promotion.

He noted that China's service trade grew at an average annual rate of 7.8 percent between 2014 and 2019 — 2.2 times that of trade in goods and 1.9 times that of its total foreign trade.