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In February 2017, China released a document on drawing up the red lines for ecospace protection, aiming to complete the demarcation of the exact boundaries of natural areas with important ecological functions by 2020.

Smart city is another vision whose realization will largely depend on the ubiquitous access to 5G networks in the future. U.S. tech giant Intel is pouring investment into this area, constructing infrastructure with 5G digital access for future smart cities that it envisages to be a system of V2X, meaning "way to everything," the company's marketing manager Paul Long said.

The local laws and regulations would take effect after being approved by the standing committees of provincial-level people's congresses.

"China is a major international buyer of Latin American bulk commodities, and imports more and more agricultural and high value-added products from the region," Hua said, adding that China's investment in and financial cooperation with Latin American countries are in full accordance with commercial rules and local laws and regulations.

China's economic development contributes more than 30 percent of global economic growth, which will generate a spillover effect. Through international cooperation mechanisms such as the Belt and Road Initiative, China will share its economic benefits with other countries and regions.