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"Commercial endowment insurance shall be vigorously developed. In the past few years, new industries and new business models have emerged as China deepens reform of government functions and encourages entrepreneurial and innovation activities nationwide," Li said.
When the new development philosophy was put forward in 2015, China's economy registered a 6.9-percent growth year on year, the slowest annual expansion in a quarter of a century. Two years later at the 19th Communist Party of China (CPC) National Congress, Xi made an important judgment that the country's economy has been transitioning from a phase of rapid growth to a stage of high-quality development.
Commending Xi's appeal for upholding multilateralism, Jim O'Neill, chairman of the London-based think tank Chatham House, said safeguarding multilateralism amid the pandemic is "exceptionally important" and expressed hope that all BRICS countries can return to stronger growth after the pandemic.
The two countries have supported each other in the fight against the COVID-19 pandemic, which has further enriched the connotation of bilateral relations, he said.
The factory is run by Vestas Wind Technology (China) Co. Ltd., the China subsidiary of leading Danish wind turbine manufacturer Vestas.
来源：资阳报