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As Roach has argued, China, with its far larger saving cushion and much smaller sovereign debt burden (49 percent of GDP), is in much better shape to avoid a sovereign debt crisis.

As at the end of January, the balance of interbank WMPs dropped by 3.6 trillion yuan year-on-year. The growth of the wealth management business fell to 1 percent, down by 26.6 percentage points from the previous year.

As a crucial link in China's manufacturing industry chain, the Optics Valley in Wuhan plays a critical role in the country's optical communication segment, Xiang added. The rapid growth of emerging industries and digital technologies such as artificial intelligence, cloud computing and big data has helped prevent and control the contagion.

As a result of a job change, she did not have money to pay back the loan and the interest grew exponentially. After several months, her final debt was as high as 150,000 yuan. To force her to pay the money, the group began to forge naked photographs of Wang Xiaohong and created memorial-style pictures, as if she were dead. Then they sent them to her, her colleagues, relatives and friends through social platforms, such as WeChat. Under such pressure, Wang had no choice but to ask for help from her family, borrowing money to pay back the money. 

As alliance partners, Nissan and its affiliate Mitsubishi would benefit from an estimated 1 billion euros in annual savings from the merger, FCA added.