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China's urbanization rate reached 60 percent by the end of 2018, with over 830 million people now living in the cities. As people move into cities, around 20 percent of the old houses in the countryside are left vacant, Xiao said, based on an investigation of villages in Guizhou.

China, on the other hand, was little affected as the government took various measures, such as the 4-trillion-yuan stimulative policy. Chinese enterprises took advantage of huge opportunities for expansion, resulting in surge in China's exports and domestic retail market.

China's policymakers announced in December that "houses are for living in, not for speculating with" in its fight against rampant speculation in the property market.

China, after France and Britain among others, is gearing up to ban manufacturing and sales of diesel and gas cars in the world's largest car market, by announcing that it had started research on a timetable to phase out manufacturing and sales of fossil-fuel powered cars.

Chinese Ambassador to Montenegro Cui Zhiwei, Montenegro's Minister of Transport and Maritime Affairs Osman Nurkovic, and Milan Bankovic, general director of directorate for railway traffic at Montenegro's Ministry of Transport and Maritime Affairs, and representatives from Railway Infrastructure of Montenegro - AD Podgorica, attended the reception.