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Chinese banks have begun giving more importance to financial technology, or fintech, in order to become more competitive as internet-based companies are taking rapid strides in the field, industry insiders said.
Chinese port operator China Merchants Port Holdings has announced it will acquire an 85 percent stake in Sri Lanka's Hambantota Port for 4 million.
Chinese investment in CEEC is over 9 billion U.S. dollars, up from 3 billion in 2012, while CEEC invested 1.4 billion dollars in China. In the first three quarters this year, their trade exceeded 49 billion dollars, marking an increase of 14.5 percent year-on-year. China's imports of agricultural products from CEEC have seen an annual increase of 13.7 percent.
Chinese investment in US real estate and hospitality reached a record high of billion last year, making it the top sector by cumulative Chinese investment, the report said.
Chinese and ASEAN member states enterprises displayed their woodworking machinery, forestry equipment and wood furniture in the 25,000-square-meters exhibition hall.
