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China had about 702,000 social organizations as of the end of 2016, according to data released by the ministry last year.

China banned the use of grain for ethanol production in 2007 to ensure sufficient food supply, and biofuel manufacturers have since turned to sweet potatoes, sorghum and straw stalks instead.

China has over 4,000 small and medium-sized banks, with total assets of about 77 trillion yuan (.9 trillion). These banks have limitations in management capacity, and their targeted clients are usually micro, small and medium-sized enterprises. Small and medium-sized banks were noticeably affected by the novel coronavirus pandemic this year, said Cao Yu, vice-chairman of the CBIRC, at a news conference on April 22.

China feels a great sense of duty, and considers not only its own growth but the sustained development of the world economy, Li said, adding that the country hopes the recent positive momentum of the world economy will be championed.

China has made strides in pushing the yuan to become an international currency and liberalizing its capital account, which helped attract foreign capital flows and shore up the yuan's strength.