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China's Belt-and-Road Initiative has encouraged greater cooperation with other nations. "We have signed 54 tax agreements with Belt-and-Road countries,"Wang said.
China will need 1,070 regional jets with 70 to 130 seats over the next 20 years, making it the third-largest regional aviation market after the United States and Europe, according to the latest report released on Tuesday by Brazil-based aircraft manufacturer Embraer SA.
China will take further measures to support private investment as the country tries to stabilize growth while encouraging deleveraging, especially within State-owned enterprises, according to the nation's top economic regulator.
China's central bank governor said at a financial forum in April that several favorable policies in support of private businesses have made substantial achievements. By the end of April, loans provided to micro and small enterprises surged 20 percent year-on-year to reach 10 trillion yuan, supporting more than 23 million small companies.
China would score very well on investment, quality of education and speed of technological progress over the past four decades of rapid growth, thanks mainly to the central values that characterize the Confucian culture, which are the importance attached to education and thrift.
