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China-Philippines ties also go beyond trade ties. As Deng Jun, country head for Bank of China's branch in Manila, noted in his speech, the two countries can also deepen their financial cooperation.
China's private sector savings rate accounted for 92.7 percent of national savings in 2017, with 45.4 percent of corporate savings and 47.3 percent of household savings. The increase of population dependency ratio and the change in structural factors are the main determinants of the change in residents' savings.
China's proactive fiscal policy, which has stabilized economic growth over the past five years, aims to boost investment, consumption and support structural reforms, experts said.
China's property development investment expanded 10.2 percent year-on-year in the first five months, slightly slower than the 10.3 percent in the January-April period.
China's ride-hailing giant Didi Chuxing announced on Tuesday that it will invest in Dubai-based ride-hailing platform Careem, as part of a new partnership agreement between the two companies, to grow their networks in the Middle East and North Africa.