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China approved the preparation application by a joint venture with American Express for setting up a bank card clearing and settlement institution last November, a step forward in the country's financial opening-up. [Photo for Chinadaily.com.cn]
China has emerged as a key provider of foreign aid to the developing world. Its aid -- ranging from food, disaster relief materials, and machinery to schools, houses, and infrastructure projects -- can be seen across Asia, Africa, and Latin America.
China has created somewhat of a miracle with the rapid and sustained rise of its economic might over the past 40 years of reform and opening up. Its overall national strength and people's standard of living have improved substantially. The country is getting ever closer to the center of the world stage.
China has a population of around 1.4 billion. "This is a major factor and no economy in the world can ignore this basic figure," said the former ambassador.
China conducted the nation's first cross-ocean flight powered by green aviation fuel on Tuesday, carrying 186 passengers and 15 crew members. The successful flight signals another significant breakthrough for domestic biofuel.