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"China's continued economic growth and the expanding middle class make the country a profitable new market for Latin America," she told the Mexican exporters during a seminar on the Chinese market held in December.

"Companies hit by the coronavirus can get an allowance from the central government when they organize online skills training for their workers," he said. "Companies and workshops that hire people stricken with poverty or those having difficulties finding jobs will be given subsidies for no more than six months."

"China regulations are also so strict that in many cases, they are even more strict than in central Europe or Finland. It's good for the whole industry to have more firms operate in a sustainable way," said Nikkila.

"Corruption and fraud still exist in the poverty alleviation sector," Hu said, adding that 187 officials in 39 counties made use of their work positions to improperly aid family relatives and friends or even embezzle the funds.

"Compared with large State-owned commercial banks and national joint-stock commercial lenders, city and rural commercial banks, also known as small and medium-sized banks, are weaker in terms of the capital adequacy ratio. They also demonstrated significant regional differences in their interim results. Some of them are financially stable, whereas some are facing major risk exposures," said Michael Hu, PwC China financial services partner.