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China aims to cultivate about 600 "little giants", or small, highly specialized world market leaders, in three years, as part of its broader push to promote the development of small-and-medium-sized enterprises, the country's top industry regulator said on Monday.

China and the US have high complementarity in their economies, and cooperation not only brings a bigger market and propelling force for US growth, but also creates a good external environment for China, Wang said.

China Merchants Port Holdings will manage the operations of the port. Sri Lanka will manage the security of the port along with the navigation and approvals.

China announced on Monday that it plans to set import tariffs ranging from 5 percent to 25 percent on 5,140 American products — such as beef, salmon, vegetables, coffee, flowers, batteries and liquefied natural gas — on a revised billion target list.

China Star Optoelectronics Technology Co, a Shenzhen-based screen supplier to many smartphone makers including Xiaomi and TCL, also started building a 600,000-square-meter factory focusing on the manufacturing of flexible AMOLED screens in the zone since 2014.