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China has signed 171 cooperation agreements with 123 countries and 29 international organizations since the initiative was put forward in 2013.

China is pursuing a new round of opening up and will further relax market access to the automobile sector, Li said. He welcomes German companies to continue to expand investment in China, cooperate more in high-tech fields and jointly seize opportunities in market competition in the future.

China has rolled out a series of market-based economic reforms this year, including in the capital market. Big moves include registration-based reforms in new share sales on the tech-focused ChiNext board and the pilot program of publicly offered real estate investment trusts, both launched last month.

China is grappling with a rapidly aging population; by the end of 2018, the country was home to almost 250 million people age 60 and older, according to the National Bureau of Statistics.

China implemented a new railway operating plan on Wednesday that links an additional 58 stations on high-speed lines on the Chinese mainland to Hong Kong, the national railway operator said.