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China's national legislature passed the foreign investment law at the closing meeting of its annual session on March 15.
China's next phase of growth
China's experiences and practices are already helping to solve global problems. For example, Chinese EPCs (engineering, procurement and construction companies) have been working on projects in developing markets for years, with additional growth spurred by the Belt and Road Initiative.
China's economy shrank 6.8 percent year-on-year in the first quarter as the virus outbreak dealt a huge blow to economic activity. While the epidemic has been basically brought under control domestically, economic activities remain on the road to recovery.
China's high-net-worth people travel overseas three times per year, while ultrahigh net worth individuals, with net assets at or above million, travel overseas four times a year. Japan and South China's Sanya are the most favored overseas and domestic travel destinations, the report said.
