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Commercial endowment insurance, which serves as the third pillar of China's pension system, will be put under unified standards and regulations, and its development will be stepped up. The protection function of commercial endowment insurance shall be intensified. Endowment insurance featuring convenient application, flexible payment and relatively stable earnings shall be supported, and pension annuity insurance products actively developed. The insurance sector is encouraged to participate in a pilot insurance scheme for long-term care.

BEIJING, Dec. 6 (Xinhua) -- The China Development Bank (CDB), one of the country's policy banks, has provided 832.3 billion yuan (about 126.88 billion U.S. dollars) of loans since 2019 for the protection and green development of the Yangtze River.

He pointed out that while the global economy is heading towards recovery, the world still faces uncertainties.

"China always honors its commitments. Guided by our new development philosophy, we will promote greener economic and social development in all respects while pursuing high-quality development," Xi said at the Climate Ambition Summit.

China is fostering a new development pattern and promoting reform and opening up at a higher starting point, which will provide broader market and development opportunities for Chile and other countries around the world, Xi stressed.