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Currently private enterprises contribute 50 percent of China's tax revenue and 60 percent of GDP. Private companies are also fueling China's job market by creating 80 percent of job opportunities and making up for 90 percent of China's enterprises in total, according to Liu.

Cross-border payments of the digital renminbi have never been ignored by central bank officials and financial regulators since the innovation started, although they still need a long-term view to allow transactions on various electronic systems across jurisdictions, monetary experts said.

Currently, the Beijing-based company handles payment transactions for around 20 million ride orders every day, mainly through Tencent's WeChat Pay and Alibaba's Alipay.

Currently, the occurance rate of ultra-low birth weight infants (less than 1,000g) in China is 0.2 percent. The survival rate of those weighing 501g to 750g at birth accounts for only 55 percent, while those under 500g when born can rarely survive at all.

Cuomo said that for in-person class to be allowed, a region must be in phase four of reopening, and New York City is not there yet. He also requires school districts reopening to be in regions where the daily infection rate remains at 5 percent or lower for 14 days. A final decision on reopening schools will be made the first week of August.