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China is in the midst of a widespread opening up of its domestic economy to foreign participation. It is further opening up its financial services markets, vehicle manufacturing, oil and gas exploration and so forth. In most sectors, foreign companies will be allowed 100-percent ownership. Plus, China has been strongly increasing its means to enforce intellectual property rights. Both the law and China's top leaders guarantee that foreign companies will not be forced to transfer technology.
China is transforming from the "world factory" to a new smart manufacturing powerhouse, as the nation's smart manufacturing market is expected to exceed 220 billion yuan ( billion) by 2020, according to a new report.
China is now the world's biggest mobile payment market. Its market size reached 40.36 trillion yuan ( trillion) in the first quarter of this year, according to a report by Analysys, a Beijing data research company.
China is ready to work with other SCO members to draw blueprints for defense and security cooperation, innovate ways to cooperate and improve the security cooperation framework, Xi said.
China imported 151 million pounds of California almonds last year, making it the third-largest overseas market. The duty on US almonds in China has gone up from 10 percent to 50 percent now after two rounds of tariffs — in April and July.