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China also launched a bond connect program last year, which allowed foreign investors to buy panda bonds through brokers in Hong Kong. Chinese regulators have implemented fresh measures to streamline the approval process for panda bond issuances.

China Zheshang Bank Co Ltd, a joint-stock commercial lender headquartered in Hangzhou, Zhejiang province, used blockchain technology to confirm the authenticity of accounts receivable of iron and steel companies and promoted accounts receivable circulation, thus revitalizing the liquidity of their assets.

China also will provide other developing countries with 40,000 training opportunities in China in the coming year as a measure to help foster exchanges of governance experiences among developing countries, he said.

China Unicom, the nation's major telecom carrier, has inked a deal with Tencent Holdings Ltd to build a 5G-enabled esports laboratory as part of its broader efforts to leverage the fifth-generation wireless technology to serve gaming enthusiasts.

China and the United States agreed to hold the 13th round of Sino-US high-level economic and trade consultations in early October in Washington, the Ministry of Commerce announced on Thursday.