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China has seen steady increases in the volume of its external debts for four consecutive quarters, with the total reaching .44 trillion at the end of March, up 1.2 percent from the end of 2016.

China is expected to be the world's largest 5G market by 2025, according to a report by GSMA Intelligence, a global mobile think tank, and China Academy of Information and Communications Technology (CAICT).

China is also an innovator in the new energy vehicle sector, he stressed, adding that the country has become the leader of manufacturing battery packs for lithium-ion batteries, and is also in a commanding position in terms of the production of battery electric vehicles and hydrogen fuel cells.

China has roughly over 3 million express delivery staff. Though most deliveries are suspended during the seven-day public holiday for the Lunar New Year, some employees remain on duty.

China is expediting the construction of its faster 5G networks. More than 10,000 new 5G base stations are being built in China every week. The rapid rollout came after more than 200,000 5G base stations became operational nationwide from mid-May, according to the Ministry of Industry and Information Technology.