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China's leading chip maker Unigroup also agreed to build an industrial park in the southwestern Chinese city with an estimated investment of over 60 billion yuan. The park will be home to its research and development center and manufacturing base of various IC products.

China's inexpensive goods have helped keep US inflation at relatively low levels and improved the well-being of its consumers. This has happened despite the fuss about the "huge trade deficit" with China, and concerns that the US stands to lose 0 billion every year, an argument used often to criticize China, Lin said.

China's newly adopted Foreign Investment Law represents progress, as it gives all businesses a clear operating environment, president of Merck China Allan Gabor said during an interview at the China Development Forum on Saturday.

China's first photovoltaic road, in Jinan, Shandong province, opened to traffic in December. [Photo/Xinhua]

China's investment in environmental protection surged by an average annual rate of 31.4 percent during the period, with investment in new energy including solar, wind and nuclear power up 13.8 percent annually on average.