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China has proved the feasibility of Marxism through practice, Saud added.

China is taking the lead thanks to innovative measures, as the launch of crude oil futures is making up for the lack of a crude oil benchmark in Asia, giving companies in the real economy a bargaining tool when importing crude, she said.

China has seen substantial opening-up in securities and assets management services in recent years such as the wider market access offered to securities, futures and funds firms, said Yi Huiman, head of the China Securities Regulatory Commission (CSRC).

China is ready to work with ASEAN to construct the Belt and Road and implement the Master Plan on ASEAN Connectivity 2025 under the guidance of the China-ASEAN Strategic Partnership Vision 2030, Han said.

China is one of the most biologically diverse countries in the world, with areas of the country representing all types of land ecosystems. It is also home to 35,000 higher plant species, 8,000 vertebrate species and 28,000 kinds of marine organisms. It also has more cultivated plant and domesticated animal species than any other country.