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Due to laws and regulations, and the compensations given to outdated capacity, it is relatively easy to shut down zombie enterprises, or operations that are illegal or substandard, but it is difficult to close down undesirable inefficient capacity, especially as prices of coal and steel have risen, Xu said.

Du said that for years, the friendship associations at various levels in Wuxi have been actively working to connect different people, businesses and institutions, promote international exchange and cooperation, and improve mutual understanding and respect.

Dozens of Chinese cities have implemented tougher cooling measures to limit price gains since mid-March, following Beijing's unprecedented harsh curbs that lifted the down-payment ratio for second homes to 60 percent.

During a rather bleak earnings season as public companies blame the pandemic for their gloomy performance, some listed healthtech enterprises have seen their share prices more than double.

Drawing on past experience and practices, the government seeks to solidify reform measures with regulations to target weak links in China's business environment and address difficulties facing market entities.