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China, meanwhile, held 1.1125 trillion dollars of US Treasuries in June, a slight increase of 2.3 billion dollars from the previous month, after dropping for three months in a row.

China's top court unveiled a guideline Friday to offer judicial guarantee to ensure the newly launched board and the pilot registration-based IPO reform run smoothly.

China's top court took new measures to help improve the business environment by further regulating hearing processes for civil and bankruptcy cases.

China's telecom operators are projected to invest more than 220 billion yuan on 5G equipment and the expenditure on 5G equipment by all industries is expected to surpass 54 billion yuan in 2020, according to a white paper on 5G's economic and social impact by the China Academy of Information and Communications Technology (CAICT).

China's political structure allows highly efficient decision-making. The country's strong executive power has been fairly demonstrated in various major infrastructure projects. Take a recent example - the way the government promotes ecological development and pursues green growth in China can be a reference case for other countries.