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Following the ceremonies was a reception event held at Macao Tower Convention and Entertainment Center which was decorated by ribbons of red and yellow, the colors of China's national flag. About 900 representatives from all sectors of society in Macao attended the reception to celebrate the anniversary.

Xi made the speech at the third plenary session of the 19th Central Commission for Discipline Inspection (CCDI) of the CPC.

The Sino-Portuguese cooperation under the BRI framework was built on a natural advantage, as Portugal is a maritime country and an important hub connecting the silk road on the land and in the sea, he said.

"China's vision for the economy is to make it open, large and competitive. It will be a huge opportunity for all companies," Fang said, adding that declines in overheated sectors, such as real estate and infrastructure, could provide useful correctives for the market.

More efforts will be made to support scientific research and I&T sectors by developing I&T infrastructure, promoting research and development (R&D), pooling talent, supporting enterprises and promoting reindustrialization.