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"Despite the global economic downturn and several other unfavorable factors last year, Sino-Russian trade has been stabilized. The uptrend will likely be maintained this year," he said at a recent news conference.

"Despite China's effective efforts of epidemic control and prevention, the spread of the virus across the globe makes it difficult to predict the magnitude of its impact on both China and the global economy." Gao told a news conference in Beijing, adding that there's tough work ahead.

"Despite obvious risks regarded as normal issues, such regional conflicts and recessive risks have been increasing," said Li Wei, a researcher at the China Institutes of Contemporary International Relations, at a forum on global security risks. He mentioned Japan, France and Germany are becoming involved in the Five Eyes intelligence network of the US, UK, Canada, Australia and New Zealand, which will likely strengthen monitoring of overseas Chinese companies. Precaution against such risks should increase.

"Delivering cost-effective products has been an important ingredient of Xiaomi's success, but it could be somewhat a hurdle to the company's future development," Lei said at the launch event in Beijing.

"Everything we do is for the benefit of the Filipino-Chinese," said Ngu.