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China approved a bond connect program between the mainland and Hong Kong earlier last month, allowing investors from both sides to trade bonds on each other's interbank markets.

China believes that under the leadership of President Putin, the Russian people will unite as one and keep on achieving new accomplishments in national rejuvenation and development regardless of difficulties, Wang said.

China has been working over the last few years to establish commonly accepted industrial standards, which officials say are the "common language" and "pass" for cross-border trade and partnerships in other sectors.

China became the world's largest market for new energy vehicles in 2015.

China attaches great importance to Sino-ROK relations, he said, adding that the two countries should strengthen political trust on the basis of mutual understanding and mutual trust.