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China was an important driving force for the rapid expansion, according to Umpleby. "Our most significant driver to profit was higher sales volume, with nearly half that increase in construction industries, and the China market was an important contributor to that volume."

China joined the UN convention in 1994 and promulgated the world's first law dedicated to sand prevention and control in 2001. Most nations use regulations for this purpose

China will accelerate the opening of its commodity futures market to foreign investors, which will help boost the country's pricing influence in the international commodity markets, a senior securities regulator said on Monday.

China will continually strengthen monetary and credit support to promote economic growth and limit the impact of the novel coronavirus outbreak while maintaining stable prices, the People's Bank of China, the central bank, said in its quarterly monetary policy report issued on Wednesday night.

China on Friday unveiled a new guideline designed to support private enterprise reform and development, as well as transformation and upgrading.