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Guo said that China attaches great importance to the development of ties with Portugal and is willing to further strengthen mutual political trust, deepen pragmatic cooperation in economy and trade with Portugal, foster growth in the sectors of tourism, sea and third-party cooperation.

On Tuesday, the arbitral tribunal issued an award over a case unilaterally initiated by the former Philippine government, denying China's long-standing historical rights over the South China Sea.

"I am confident that our offerings have the potential to support efforts to boost the trade ties between China and the UAE," Mana Mohammed Saeed Al-Mulla, Chief Operating Officer of Kizad, said.

Having experienced years of rapid growth, China's economic development has now entered a new normal. In the face of mounting downward economic pressure, we have not resorted to indiscriminate strong stimulus. Instead, we have focused on exploring new models of macro control, vigorously advanced structural reform, and concentrated our efforts on cultivating new drivers of growth while upgrading traditional ones. As a result, we have maintained steady economic development, ranking among top of the world's major economies in terms of growth speed, and made positive progress in structural adjustment. The journey we traveled these years has been fraught with risks and challenges, and we have made painstaking efforts along the way. Nevertheless, it is encouraging to see that new drivers in the economy are rapidly growing. Although they cannot yet compare with traditional drivers in size, they do play a bigger role in sustaining development, securing employment, and promoting economic transformation. Given time, the rise of the new drivers will open up new prospects for the Chinese economy.

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