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Despite a blow that sent solar stocks into free fall in June, China's new rules to reduce government feed-in tariffs for the photovoltaic industry will encourage its more sustainable and efficient development, while stabilizing the rapidly growing and overheating sector, solar power industry insiders said.

Despite US President Donald Trump's threats to leave Canada on the sidelines after announcing a breakthrough with Mexico on Monday, Trump and Canadian Prime Minister Justin Trudeau expressed optimism a deal was close.

Describing China as one of the three major countries in the world today along with the United States and Russia, he said that China "has a particularly important leadership role to play in global governance."

Despite improvement of the financial market conditions in recent months, "we are concerned that an abrupt reversal of financial market conditions could represent a material downside risk to the US," Lagarde said.

Despite its boom, China's used car sector has a long way to go compared to developed markets. A total of 7.89 million used cars were sold from January to August, 45 percent of total new car sales in the same period. Used car sales are usually more than double those of new cars in developed markets such as the United States.