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"China will face a severe challenge in meeting its pension obligations," Chu Fuling, director of the Institute of Social Security Studies at the Central University of Finance and Economics in Beijing, told Xinhua on Saturday.

"Considering the expanding value-added industrial output in May and the positive service production index, China's economic growth is expected to bounce back in the second quarter with a modest growth," Tang said.

"China welcomes all types of businesses, including foreign ones, to participate in the ownership reform of SOEs," said Xiao Yaqing, chairman of the State-Owned Assets Supervision and Administration Commission, at a media briefing on the sidelines of the 13th National People's Congress, the top legislative body, on March 10.

"China's fast growing 5G technology infrastructure, artificial intelligence, machine learning and digital related-business environment, as well as people's willingness to connect with various products via digital applications, are creating many opportunities, Michael Martin, vice-president of Nike China and general manager of Nike Direct China, said.

"China's nuclear arsenal is extremely limited in scale, and poses no threat to international peace and security," he noted.