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Ban made the remarks in a pre-recorded speech delivered at a news conference in Beijing that released the Asia Poverty Reduction Report 2020, which said Asia has been leading the poverty reduction cause worldwide since 1990, to which China is a major contributor.

Banks see the initiative as an opportunity to cement the city's financial strength amid the uncertainties surrounding Brexit.

Bayer Group's booth at the China International Import Expo in Shanghai on Nov 6, 2018. [Photo/China News Service]

Be it trade surplus or trade deficit, I believe the state of a country's trade balance is mainly the result of its role in the international division of labor and position in the international industrial chain. As we do not deliberately seek surpluses or avoid deficits, we need to carefully weigh our choices: should we open up the services sector even wider or try to reduce the trade deficit in services? We have opted for the former. China will be firmly committed to opening up the services sector, even if it means a bigger deficit. Although this will present a greater challenge for our regulatory capacity, at the end of the day, opening the services sector will boost the competitiveness of Chinese companies, which is beneficial in the long run, and will provide more choices and be fairer for Chinese consumers.

Based on skin samples from two dogs, both Belgian Malinois, six cloned dogs entered the world in August.