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"China ought to take action like relaxing foreign equity limits for banks, while the US should consider opening its high-tech sector to China."

"China has ample foreign exchange reserves and relatively large room for policy controls. China is capable and confident in coping with all sorts of challenges," said Wang Chunying, spokesperson for the State Administration of Foreign Exchange, at a press conference Thursday.

"But with the social and economic development, water shortages, damage to aquatic ecosystems and water contamination have become the main issues," he added.

"By bringing the most outstanding employees in one room, KCETA has opened up an opportunity for employees to start networking as well as create synergy," he said.

"China is already the world's largest exporter and is catching up with the US on import volumes. The resulting trade relationships that China develops add to its global leverage," Agence France-Presse commented recently.