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China's 40 years of reform and opening-up are an example of maximizing absolute and comparative advantages by enlarging the market and enhancing the division of labor. China achieved speedy development by boosting the flow of production factors, lowering transaction costs, creating a unified domestic market and opening up to engage in international division of labor and exchanges. In the past four decades, China's trade in goods has soared from .6 billion to trillion, and now ranks first in the world.
China will explore new models of social governance with Chinese characteristics and local characteristics of urban areas and intensify efforts to ensure law and order, a senior Communist Party of China official said in a meeting in Beijing on Tuesday.
China will set up more cross-border e-commerce pilot zones to facilitate trade and boost China's global competitiveness.
China's banking and insurance regulator also instructed banks to allow enterprises to use their accounts receivable, orders, warehouse receipts and inventories as collateral to secure funds through supply chain financing, which refers to systematic financing arrangements for the benefit of all members of a supply chain.
China will set up a committee under the State Council to oversee financial stability and development and the central bank will play a stronger role in macro prudential management and guarding against systemic risks, according to Xi.
来源：资阳报