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China should rely on reform and opening up to spur more market vitality and creativity, and meet the development goals of the economy and society, he said.
China recently released a series of measures for opening-up and will further reduce market access threshold, lowering shareholding ratios of foreign companies in fields such as automaking and the financial sector, he said. Intellectual property rights protection will be strengthened and a business environment of fair competition will be accelerated, which provides more opportunities for companies from Germany, Europe and other countries and regions, he added.
China will continue to lead growth in the global luxury goods market, with the boom in the online luxury retail industry especially in lower-tier cities due to growing demand from tech-savvy consumers who tend to pursue exquisite and high-end lifestyles, industry analysts and insiders said.
China launched the NEEQ Select as the highest tier of the NEEQ system, with the most stringent listing requirements and trading rules close to those on the Shanghai and Shenzhen stock exchanges.
China will also continue to implement a prudent monetary policy in the second half of this year to maintain reasonably ample liquidity, according to a key meeting of the Political Bureau of the Communist Party of China Central Committee.