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China is also the third largest applicant for trademark registration in the international trademark alliance Madrid System with 4,810 applications in 2017, up 59.6 percent year on year, which shows the fast pace of Chinese firms expanding overseas.

China is expected to be one of the few major economies to see growth this year, and some international agencies have forecast that its GDP could rebound sharply to around 8 percent next year.

China is the leader among G20 members in terms of the debt relief amount, and this is "an important deliverable for the upcoming G20 Leaders' Summit", the minister said. Reiterating that China will continue to help the world's poorest countries, Liu said the focus would be on tackling debt-related issues and bolstering economic and social recovery.

China is "very different from what it was 17 years ago (when the SARS epidemic broke out) in economic weight, position in global industrial and value chains, and its contribution to the world economy", with economic and social activities "starting to revive in most parts of the country" since the outbreak, according to the think tank's president Chen Dongxiao, who co-authored the report.

China is implementing the largest tax and fee cut of recent years, saving enterprises and individuals nearly 1.35 trillion yuan (about 9 billion) in the first seven months of this year. As a trade-off, governments at all levels are told to "tighten their belts".