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"China, our third largest trading partner, is crucial as we enter this new chapter," he said, citing the UK's bilateral trade with China reached 104.5 billion pounds (9.57 billion) in 2019, surpassing 100 billion pounds for the first time and growing more quickly than any other region.

"China urges New Zealand to immediately correct its mistake, and stop all forms of interference in Hong Kong affairs and other internal affairs of China, to avoid harming bilateral relations," he said.

"China used to lag behind those developed countries in terms of participating in the global competition (for infrastructure projects). And now we need to ramp up the efforts to target overseas markets and learn from leading countries."

"Commercial endowment insurance will be vigorously developed. In the past few years, new industries and new business models have emerged as China deepens reform of government functions and encourages entrepreneurial and innovation activities nationwide," Li said.

"China's decline has softened slightly, which offers some relief after a bad year," said Canalys Analyst Mo Jia, adding that major vendors are gearing up to full speed, releasing new products and spending on marketing to maintain market share.