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China currently has a surplus of the raw material with high holdings at ports amid slow seasonal steel demand, according to the China Iron and Steel Association in an analysis on its website.

China has been a strategic partner and top buyer of abundant oil and gas resources from Russia and Central Asia. Support from Chinese financial institutions such as the China Development Bank also helped deepen bilateral cooperation, she said.

China has been engaged in the construction of self-driving infrastructures to enhance safety and efficiency in test rides. Beijing added a new area of 40 square kilometers for testing self-driving cars carrying passengers on Dec 30 last year. The city has opened 151 roads with a distance of about 503.68 kilometers for autonomous driving, ranking first in the country.

China extends sincere congratulations on Vladimir Putin's inauguration as Russian president, Foreign Ministry spokesman Geng Shuang said at a regular news conference on Monday.

China has more than 4,000 incorporated small and medium-sized banks and their total assets stand at 77 trillion yuan (.9 trillion). Most of these lenders have been affected by the novel coronavirus outbreak due to limited management capabilities and distinctiveness of their customers, which are mainly small businesses, farmers and agribusinesses, he said.