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China has opened a path for a transformation of its financial markets that could see them match the United States in size and lure more than trillion in capital from abroad by 2025, according to a recent study by Citigroup Inc.

China has been the largest trading partner for Africa for 10 consecutive years. Last year, bilateral trade volume amounted to 4.2 billion, up 20 percent year-on-year, statistics from the Ministry of Commerce showed.

China has already started its third-phase tests on 5G research and development, in the hope of getting pre-commercial system products ready by the end of this year.

China has endured 21 major floods so far this rainy season, one more than in 1998. As of Tuesday, alert-triggering floods have occurred in 833 major rivers, and 77 of those waterways experienced their most severe floods on record, according to the Ministry of Water Resources.

China expects smart cars with partial or fully autonomous functions to account for 50 percent of new vehicles sold in the country by 2020, the National Development and Reform Commission, China's top economic planner, said on Friday.