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China encouraged banking institutions to strengthen risk management, reduce their costs and improve efficiency for small business lending by adopting financial technologies.

China has always viewed the development of the bilateral relations from a strategic and long-term perspective, and will continue to pursue a friendly policy toward Ethiopia, Wang said.

China has included in its legislation program major reform measures that need to be addressed through legislative procedure, and has revised or abolished laws that fell out of pace with reform. From 2013 to June 2017, the Standing Committee of the National People's Congress (NPC) made 17 legislation authorizations and reform decisions in accordance with legal procedures, ensuring that relevant reforms proceed in an orderly manner within the legal framework.

China has become one ray for hope for automakers including Volkswagen and GM as the global automotive industry has been badly hit by the coronavirus pandemic.

China has an aging population. There were 241 million people aged 60 and above at the end of 2017, and the number is expected to hit 487 million by 2050.