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Ding Xiangqun, vice-president of China Development Bank, a State-owned policy bank, said that Chinese loans will not increase the local debt burden and the risks associated with the loans are under control.

Dollar said if the Trump administration wants to cut the trade deficit, it could do it easily. "They have to raise taxes, not cut taxes," he said of the US tax cut that began effective this year, a move that economists believe will make trade deficit worse by stimulating US imports.

Director of Algiers office of China Shipbuilding Trading Company (CSTC), Luo Zengqiang, said the "agreement is important for Algeria as it is due to increase Algerian maritime traveling capacity."

Developing effective vaccines and antiviral drugs to combat the novel coronavirus and making them available to everyone are vital to providing a sense of security and safety as well as restarting economic activities and the international movement of people, he said.

Domestic firms registered in the free trade port will be encouraged to raise funds by issuing shares abroad. The free trade port will also offer tax benefits for firms operating in sectors such as tourism, modern services, and new and high technology by exempting enterprise income tax for the income from their direct investment overseas.