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China's homegrown C919 passenger plane completed its first public test flight earlier this month, and US aviation experts say that eventually the narrow-body jet could compete with the updated Airbus 320 and Boeing's new generation of 737 planes.

China's maturing economy is undergoing important changes that have resulted in a slowdown in GDP and trade growth. Even so, US exports of goods and services to China have grown faster than exports to any other major US trading partner over the past decade, the report said.

China's largest internet security company 360 Security Technology Inc unveiled a new smartphone on Tuesday to target mobile gaming enthusiasts, part of the Beijing-based company's broader push to tap into opportunities created by the internet of things.

China's futures market has been developing steadily amid reforms, but still needed to enhance its capabilities and market tools, Fang said. Trading of quite a few products had not been active in recent months, and wildly volatile prices could affect the risk management of companies, Fang said.

China's imports and exports were down 9.6 percent year-on-year to 4.12 trillion yuan (0 billion) in the first two months of this year, mainly due to the impact of the global pandemic, according to the General Administration of Customs.