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China's overall leverage rose to 250.3 percent last year, up by only 2.7 percentage points from a year ago, according to a new report released by the PBOC Friday. The slowdown came after expansion of supply-side structural reform, a firmer economy and the effective implementation of a prudent, neutral monetary policy, the central bank said.

China's foreign reserves continued to increase in the past year, and the country's corporate leverage debt ratio has declined steadily, Li told leaders from the five countries.

China's consumer inflation eased to a 14-month low in May as food prices stabilized while business resumption deepened, the National Bureau of Statistics said on Wednesday.

China's military sports began developing in the 1950s, when the PLA established its first professional sports team — PLA Bayi Sports Work Brigade in 1951. Lu Ting, the first political commissar of the team, recalled that living conditions were very poor in the beginning. They had no barracks and had to live in a stadium's warehouse, residential courtyards in Beijing's hutong areas and a construction shed belonging to the public security bureau. Nevertheless, Lu said, all athletes kept high spirits in training.

China's exclusions on some US chemical products, such as white oil, will apply for a year starting Dec 26, the commission said in a statement. Duties that have already been imposed will not be refunded.