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China's important global role in environment-related issues is perhaps most obvious in the area of climate change, Veres said. "China has been constantly engaged with the global community in reaching amicable agreements to address one of our globe's biggest concerns."

China's economic growth is projected to decline to 2.3 percent in the baseline scenario, and 0.1 percent in the lower case scenario in 2020, down from 6.1 percent in 2019, according to the World Bank's updated economic report for the East Asia and Pacific region.

China's leading maker of ball bearings now has a facility near the center of the US automotive industry.

China's overall economic situation improved in the Jan-Feb period, said Ning Jizhe, head of the National Bureau of Statistics, on Tuesday.

China's e-commerce giant Alibaba took sixth on the list with 2.53 billion in brand valuation, up 16 percent year-on-year, while JD.com saw a 24 percent surge to .49 billion, according to the report. Chinese internet heavyweight Tencent came in seventh with a brand value of 0.98 billion.