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Buoyed by the success of the nation's ride-hailing and bike-sharing sectors, Chinese companies and consumers are set to benefit from the country's intensified efforts to drive the rapidly expanding sharing economy.

Business owner Andy Lahiji stood before a burned-out warehouse where he said he had lost his inventory of furniture and other property. He said it took firetrucks a long time to arrive Monday morning.

But million of construction (so far) has amounted to reducing commute times by a mere?two seconds. Drivers used to spend an average of 7?minutes and 50 seconds on the Mercer corridor, now sitting for 7?minutes and 48 seconds.

Business magazine The Economist's consulting arm ranked 133 cities around the world on living cost.

Both sides advocate multilateralism, support the UN's role, and favor solving international conflicts through peaceful means. As the uncertainty in the international situation increases, strengthening China-EU cooperation will add positive energy to the world, Wang said.