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China's producer price inflation tamed down in November on low basis and government curbs on polluted industries, the National Bureau of Statistics (NBS) said Saturday.

China's success has demonstrated that an open and more prosperous China can benefit the world, Cui stressed, adding that its efforts will bring even bigger benefits to the US economy and the livelihood of the American people as China continues to develop its own economy and to strengthen the China-US economic relationship.

China's tourism market saw a strong recovery during the five-day Labor Day holiday. With regular epidemic control measures in place, the tourism market basically recovered to 50 percent of the level seen in the same period last year, said Wang Xiaofeng, an official with the Ministry of Culture and Tourism.

China’s credit rating agency Dagong downgraded sovereign credit rating of the United States by one notch from A- to BBB+ on Tuesday, as debt repayment capacity is expected to continue to deteriorate with its massive tax cuts plan.

China, especially Shenzhen, has a growing base of educated researchers and engineers, and mature downstream support services.