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"China's insurance depth, which was calculated by the premium to GDP rate, was over 4 percent last year, while the global average was over 6 percent," Rui said. "Also seen from the lens of average number of policies per capita, the number in the United States reached 6 while that of China was fewer than 1."

"Considering the large number of overseas Chinese students, especially those younger ones and the difficulties they are encountering, the Foreign Ministry is coordinating with other government divisions to arrange temporary flights to return young Chinese students back home gradually and in an orderly manner," Zhao said at a news conference last week.

"Consumption drives economic growth by leading investment. Economic growth can only be stimulated if consumption can be expanded to boost industrial production," said Wang Tongsan, an economist with the Chinese Academy of Social Sciences, a government think tank.

"China's reform and opening-up will be further strengthened in the future and the country will explore higher-level and more liberal opening-up policies," he said.

"Competition has also risen, as new drugs have a limited window of opportunity to be profitable before an enhanced and more improved version of the same product is introduced by a competitor," Feldman said.