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China's civil aviation authorities have set a goal of having more than three MRO clusters by 2020 and up to two MRO companies with international competitiveness by 2030.

China's large-scale tax and fee reduction, including the government's reductions in VAT, one of the important measures for countering downward pressure, all present opportunities for foreign companies like Sabic, and "we will further deepen energy cooperation with old partners while continuing to seek new partnerships for sustainable development," he said.

China's imports from the Yamal project play a significant role in substantially boosting China's oil and gas reserves, ensuring a steady, long-term supply, said Jiang Qi, general manager of the CNPC Russia, a subsidiary of CNPC, the country's largest oil and gas producer by annual output.

China's economic prospects will remain solid next year, with its ongoing efforts in deepening reform and opening-up as well as economic and trade cooperation with foreign countries, Wei added.

China's economic recovery picked up steam in the third quarter as activities normalized amid effective control of the COVID-19 pandemic and the Chinese government's sweeping efforts to stimulate demand and consumption, according to official data.