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Covering an area of 87 hectares, the first phase of the project involves an investment of 4 billion yuan. It has an annual capacity of 100,000 NEVs and 1 gigawatt-hour of batteries.

Consulting firm McKinsey based in the United States said in a report: "Companies that wish to provide electric vehicle fleet operators with charging services will need to look beyond existing business models. It may require an investor or a well-capitalized business to combine multiple entities into one with all the right capabilities, or complementary businesses to join forces in a partnership."

Created by the IMF in 1969, the Special Drawing Right is an international reserve asset to supplement the official reserves of members. It can be exchanged among governments for usable currency in times of need.

Considering the complexities and size of China's financial market, policymakers have also decided to create a new committee for financial stability and development to enhance inter-agency coordination.

Coordinated efforts will be made to converge accounting and auditing standards, laying a solid foundation for connectivity in bond markets in BRICS countries.