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China's government has taken great steps to open up China's financial markets to foreign investors and foreign competition in the last two years. In the long run, this will improve the economy's efficiency by introducing more competitiveness and innovation into the domestic financial system.

China's high-speed rail has also gone global. In 2014, China completed the construction of its first overseas high-speed rail in Turkey.

China's industrial output contracted by 13.5 percent year-on-year in the January-February period. Retail sales dropped by 20.5 percent, while fixed-asset investment declined by 24.5 percent.

China's high-speed rail service will enter the era of automated driving once the core technologies and products are all domestically made, one of its designers said on Tuesday.[Photo/VCG]

China's high-speed rail network is expected to surpass 38,000 km by 2025, and 45,000 km by 2030, according to China Railway Corp. That is far more rail lines than the rest of the world combined.