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In addition, the UAE, a major oil supplier, is a founding member state of the Chinese-initiated Asia Infrastructure Investment Bank that comprises 57 signatory states. The bank's mission is to spur infrastructure investments along the new Silk Road.

China all along holds that one important way to emerge from the world economic and financial crisis is to promote trade and investment liberalization and facilitation. Hence, it is good news to China to see a new growth point in any country, as it may bring more opportunities to Chinese companies too. Competition is only natural in a market economy and we welcome it. Without competition, bad currency may drive good currency out of circulation and there will be no chance for good companies. We have no wish to protect the backward. What we hope to see is a level playing field on the big world market, and we also wish to see peace and development in all South Asian countries. For Asia to truly become the new engine driving world economic growth, there must be inputs from all parts and directions of the region, be it the east, south or central.

Party officials must be held responsible for serious consequences caused by their negligence or poor work performance, which undermines the Party's governance and harms the people's interests, according to a statement issued after a meeting of the Political Bureau of the CPC Central Committee, presided over by Xi Jinping, general secretary of the CPC Central Committee.

Merkel spoke highly of the sound development of bilateral ties with China.

He also said that Algeria is willing to promote bilateral cooperation in industries, infrastructure, finances, and manpower so as to materialize common development and mutual benefits.