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British fashion and furniture retailer Laura Ashley is to close 40 of its stores in the United Kingdom and expand its presence in China.

Buffeted at the same time by the global economic slowdown and external uncertainties, which are likely to persist for some time, the SAR, as a major entrepot for trans-Pacific trade and commerce powered largely by small and medium-sized enterprises, has seen its economy suffer.

Brad Henderson, president and CEO of Sotheby's International Realty Canada, told Xinhua that the province's foreign buyers tax, which was levied for the first time in Vancouver, has scared off prospective Chinese homebuyers.

Bounnhang called Xi a close friend who is trusted by the party, government and people of Laos. The important consensus reached by the two leaders during Xi's visit in November is being implemented and it has led to a higher level of bilateral relations, he said.

Both sides will make full use of their complementary advantages and conduct cooperation in various areas including trade, investment, maritime affairs, culture and education as well as tourism.