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Xi added that China supports more Chinese enterprises investing in Tanzania, and stands ready to expand cooperation in infrastructure construction, resource development, agriculture, manufacturing and other fields.

To facilitate a joint fight against COVID-19 and contribute to regional economic recovery, China supports APEC in strengthening policy exchanges and capacity building in the areas of public health and micro, small and medium-sized enterprises. It also proposes telemedicine for the timely and effective treatment of patients in poverty-stricken and remote regions.

U.S. arms sale to Taiwan has severely violated the one-China principle and the three China-U.S. joint communiques, especially the August 17 Communique, Ren said.

While making optimal use of government funds, universities, research institutes, enterprises, and private sectors should also be encouraged to increase investment in basic research, according to Li.

"As digital payment, especially mobile payment, gets popular in the country, basic financial services are generally available in all urban and rural areas," Guo Shuqing, chairman of the China Banking and Insurance Regulatory Commission (CBIRC) said at the Singapore Fintech Festival.