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China has become the number one market for US travel and tourism exports and is its largest market in terms of spending. Last year, almost three million Chinese nationals visited the US - a 15.5 percent year-on-year growth - and spent billion on tourism expenses.

China has carried out a major revamp of government institutions this year and established new agencies such as the creation of a state market regulatory administration.Xi said the purpose is to remove systemic and institutional obstacles that prevent the market from playing a decisive role in resource allocation, and to enable the government to serve a better function.

China has made great progresses in narrowing gender gap in the labor market, but more efforts are needed to close gender gap in entrepreneurship, experts said.

China has faced heavy capital outflow pressure in recent years, with its foreign exchange reserves falling to about trillion at the end of 2016 from nearly trillion in 2014. As the country's economic fundamentals improve and its management of cross-border capital flow has strengthened in recent months, the situation has stabilized, with foreign exchange reserves rising for five consecutive months by June.

China has over 100 million diabetic patients. Delayed wound healing is one of the most prominent clinical manifestations of diabetes and lacks satisfactory treatment options, he said.