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China's overall leverage ratio is still growing, but at a slower pace. Overall leverage was 257.8 percent of GDP at the end of the first quarter of 2017, slightly up from 257 percent at the end of 2016. The non-financial corporate leverage ratio declined to 165.3 percent at the end of March from 166.3 percent at the end of 2016, according to BIS.

A country should not develop by simply following the models of other countries. China has blazed a new trail for other developing countries that want to modernize while preserving their independence.

Zheng Yongnian, director of the East Asian Institute at National University of Singapore, said Xi has acknowledged there is a Chinese model -- the path of socialism with Chinese characteristics.

To pick a representative of Chinese culture, 52 percent chose Chinese cuisine, with almost 80 percent saying they had tried it, 72 percent of whom spoke highly of it.

The Uganda Wildlife Authority (UWA) on Tuesday also lauded China's ban on ivory trade as a major milestone step.