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China's service industry accounts for over 51 percent of economic output while the proportion in developed countries like the United States and Japan is over 70 or 80 percent of the economy.
China's trade performance got off to a strong start this year, thanks to the steady recovery of the world economy, sustained demand in the domestic market and the Belt and Road Initiative, Huang said.
China's top financial regulators, including the People's Bank of China, the China Banking and Insurance Regulatory Commission, the China Securities Regulatory Commission and the State Administration of Foreign Exchange, conducted a joint regulatory talk with Alibaba's top management on Monday. Alibaba founder Jack Ma, Ant Group's chairman Eric Jing and the fintech company's CEO, Simon Hu, attended the meeting. Further details were not provided.
China-CEEC cooperation, he stressed, arises from the common desires and mutual needs of China and the CEECs, and is in no way intended to start all over again, let alone to divide Europe.
China's securities regulator said on Friday that it will allow domestic and overseas companies to issue bonds in the onshore stock exchanges to finance projects related with the Belt and Road Initiative.