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In 2018, the added value of Beijing's service trade accounted for 81 percent of the city's GDP.

It was pointed out at the meeting that a market-oriented, law-based debt-to-equity swap is an important measure to help companies with promising market potential to tackle the debt burden, promote steady growth and prevent risks. Debt-to-equity swap programs worth over 900 billion yuan (about 130 billion U.S. dollars) have been implemented since early last year, resulting in a marked improvement in the performance of the companies concerned.

BEIJING, June 25 (Xinhua) -- China on Tuesday vowed to work with African countries to enhance cooperation based on equality and openness to build a community of shared future.

"Pretty much the entire planet is linked together in trade and commerce," said John Larned, founder of Global RFID Systems North America, a radio frequency identification solutions provider that sources finished components and products from China. "It all works much better when there are fewer impediments to trade."

Thanks to international cooperation, around 1 billion people have been able to get out of poverty, as water supply, access to transport and other services have been overwhelmingly improved, Gramegna noted.