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China has reiterated that it would not allow banking and insurance institutions to clandestinely divert funds to bourses and the real estate sector amid renewed efforts to curb financial risks and stock market volatility, and home price spurts.

China is a partner, rather than a rival, and there is no fundamental conflict of interests between the two sides, he said, adding that the cooperation and consensus between them far outweighs competition and differences. He urged both sides to respect the other, seek common ground while shelving differences and keep enhancing mutual understanding and trust.

China is expected to see a robust economic growth at around 8 percent in 2021, and the country must continue to rebalance from investment to consumption to make the recovery more inclusive and sustainable, the head of a major economic organization said on Tuesday.

China is ready to increase the scale of the investment fund and suggest the Silk Road Fund finance China-Russia joint programs, Wang said in a speech at a commercial conversation on the sidelines of the Third Eastern Economic Forum in Vladivostok, a major Pacific port city in Russia.

China is now the carmaker's largest market, where it has built a carmaking plant and its first overseas engine factory.