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Financial authorities will speed up formulating relative laws and regulations to facilitate the implementation of those opening-up measures, Guo added.

Speaking of how the Italy-China partnership contributes to a better and more stable world, the president said that Italy is committed to safeguarding peace and rules-based multilateralism, and is pleased to see the two sides have consensus on that.

The seminar held two panels for in-depth discussions on smart energy cooperation between the United States and China, present and future challenges, artificial intelligent (AI) technology in power development, business development and building smart villages.

At present, the international community is undergoing profound changes at an ever-faster pace. With the rise of unilateralism and protectionism, the international multilateral order and global governance are being challenged, he noted.

The LMC was launched in March 2016 and more than 260 cooperation projects have been successfully implemented with fruitful cooperation in infrastructure connectivity, industry capacity, cross-border economy, water resources management, agricultural and rural development, poverty alleviation, culture and tourism, Hong said.