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SHANGHAI, April 10 (Xinhua) -- Shanghai is speeding up preparations for the first China International Import Expo slated for November, with a target to develop itself into an "international exhibition capital."

China has made bond issuance the sole legal way for local governments to raise debt amid the nation's efforts to forestall systemic financial crisis, the country's finance minister said last Month.

Xiaogang initiated the share-holding reform in 2016, after villagers turned their rights in collective operating assets and intangible assets -- a total capital amounting to 30.26 million yuan (about 4.8 million U.S. dollars) -- into shares in a collective.

"The whole Party must have a deep understanding of the importance and difficulty of developing a modernized economy and a good grasp of the goals and priorities of this task," Xi said.

Also, bicycles have become popular again in China thanks to the new shared bike initiative. Parked at designated areas on sidewalks, the bikes can be easily unlocked by scanning a QR code.