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Asked to comment on Yang’s remarks, Amazon pointed out that it employs more than 250,000 people in the U.S., in addition to more than 450,000 jobs indirectly created in the country by its investments in areas such as construction, logistics, and other professional services. The company says it has invested more than 0 billion in the U.S. since 2011, including infrastructure and compensation to employees.

At least analysts expect to see a breakthrough in Chinese sectors such as insurance and wealth management as the country's affluent middle class search for more sophisticated financial services and products.

At a donation ceremony at Waigani Primary School in the capital, Guo Weimin, vice-minister of the State Council Information Office, offered his best wishes for the 1,000 or so children in attendance.

Associated Press writer Tom Krisher in Detroit contributed to this report.

Asset investment companies (AICs), subsidiaries established by banks to conduct debt-to-equity swaps, can now raise funds for the investment plans through private sales to qualified investors including insurance and pension funds, according to rules announced by industry regulator the China Banking and Insurance Regulatory Commission (CBIRC).