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At the same time, it will also highlight China's support of the real economy, stress on intellectual property rights, and resolution to boost the development of domestic companies in a more open manner.

At present, relevant departments are pushing forward the legislation in accordance with the procedural requirement, according to Peng.

At the World Economic Forum in Davos, Ctrip CEO Jane Sun predicted the number of Chinese passport-holders would grow to 240 million by 2020. Currently, about 120 million Chinese citizens hold passports, about 8.7 percent of the population.

At the same time, the increase in the leverage ratio of China's household sector is higher than that of major countries in the world. In 2018, the leverage ratio of China's household sector increased by 3.4 percentage points, while the leverage ratio of the household sector in the United States and Australia decreased by 1.5 and 0.7 percentage points respectively. The leverage ratio of the household sector in Japan and the United Kingdom also increased slightly.

At the briefing, the chief executive also announced that the HKSAR government has generally finalized the details of its Employment Support Scheme (ESS) and eligible employers can apply for wage subsidy starting from May 25.