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As a result, Smeal has won more than 16,000 thumb-ups on social shopping app Xiaohongshu and more than 500,000 Xiaohongshu users have expressed willingness to try Smeal products.

As a traditional industrial base, China's rust belt has also encouraged local companies to go global.

As a neighbor of the Korean Peninsula, China has been closely following the development of the situation there, Geng said.

As banking regulators tightened rules on shadow banking and interbank business and launched a new round of inspections on irregular banking activities, China CITIC Bank re-examined its interbank business to ensure it is in compliance with regulatory requirements, in addition to shrinking part of the interbank business that generated low or no profits, said Fang Heying, vice-president of the bank, at a news conference on Tuesday.

As each individual green loan in China is too small for international investors to take notice, selling Chinese green loans requires a process whereby investment banks package a large number of loans together into a single product, which can be traded on China’s Bond Connect.