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BEIJING, July 15 (Xinhua) -- China will set up a commission under the State Council to oversee financial stability and development, according to President Xi Jinping.

Wang said that the China-proposed Belt and Road Initiative (B&R) is a historical opportunity for China and Malaysia to build better relations as some projects they agreed under the framework of B&R have made progress.

Wu Yibing, joint head of China of Singapore investment firm Temasek Holdings, told Xinhua that his company wanted to increase investment in China's new economic sectors as Temasek was optimistic about China's ongoing economic transition.

They meet every other month. Liu believes the long-distance relationship has improved him; each time they meet, he is more confident, braver and optimistic.

China has also established a national database collecting information of impoverish people since 2014, said the report.