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Dubbed "the forest version" of the household responsibility system -- a vital rural reform adopted in the late 1970s that allows the distribution of land to farmers so that they manage their own production, the practice was adopted nationwide several years later.

BEIJING, Dec. 6 (Xinhua) -- The China Development Bank (CDB), one of the country's policy banks, has provided 832.3 billion yuan (about 126.88 billion U.S. dollars) of loans since 2019 for the protection and green development of the Yangtze River.

"As China opens its doors wider, foreign companies, including American ones, will surely see greater space for development," said Hua, adding that the bilateral trade cooperation will surely have brighter prospects.

He reiterated China's new development paradigm is by no means to close its doors but to build a new system of open economy of higher standards.

Major foreign-funded companies should get equal access to some financing programs as their Chinese counterparts, according to a circular released jointly by the Ministry of Commerce and the China Banking and Insurance Regulatory Commission.