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China will also lay the groundwork for a national unified engineering construction project approval and management system in the first six months.

China is willing to work with Djibouti to continuously promote the bilateral strategic partnership, Xi said, stressing the joint building of the Belt and Road and the implementation of the outcomes reached at the Beijing Summit of the Forum on China-Africa Cooperation.

China will adopt policy steps to optimize the mechanism for deterring acts of bad faith and refine the social credit system to underpin the development of the socialist market economy, the State Council's executive meeting chaired by Premier Li Keqiang decided on Wednesday.

China may see an increasing number of mergers and acquisitions among small and medium-sized commercial banks, as the country ramps up efforts to mitigate financial risk while divergence in banks' asset quality and financial performance has intensified, experts said.

China needs to stay with the broad thrust of reforms and opening-up. In that vein, China needs to continue to focus on the rebalancing from exports and investment to internal private consumption, from manufacturing to services, and from surplus saving to saving and absorption－by that I mean using the still large reservoir of domestic savings to fund the social safety of Chinese people (i.e., retirement and healthcare).