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"Egypt is an important gateway for banks and financial companies from China to enter into African continent," Etreby said at the office opening ceremony on Thursday.

"Facing the grim and complex global situation, we need to further upgrade the growth model and economic structure, giving priority to the innovative development of foreign trade," Ren said.

"Due to the campaign against corruption in recent years, a new problem occurs that many cadres begin to feel pressure that some do not dare to take responsibility and do practical things, which is also a dereliction of duty," he said.

"Despite the ongoing pandemic, we are confident that Singapore will be able to continue maintaining public health and safety while supporting the WEF's mission to effect positive change through collaboration and engagement," Singapore trade minister Chan Chun Sing said in a statement.

"Despite the fluctuations in Chinese outbound M&A, the overall trend of expansion and globalization of Chinese companies will not change, so M&A will keep growing in the long run," Jiang said.