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The "new normal" of the economy and China-led initiatives, such as the Silk Road Fund and the Asian Infrastructure Investment Bank (AIIB), will create new opportunities, said Xi.

The Chinese nation, whose 35 million people were killed or injured for the victory of the war against Japanese invasion, made tremendous contributions to the victory of the World Anti-Fascist War, which, like that of Russia, will be forever remembered in history, Xi said.

Fighting red tape has taken on extra urgency as growth slows and the economy is steered away from an unsustainable model powered by state investment toward one driven by private consumption and services.

Another direct impact of this project is that it will further promote the connection between Latin American and Asian markets by reducing the cost of exporting goods from Brazil to Asia and bringing more business to Peruvian ports.

KATHMANDU, May 3 (Xinhua) -- The Chinese government will carry out a new round of quake relief assistance in epidemic prevention to Nepal which is hard hit by the devastating earth quake a week ago, a Chinese official told Xinhua here Sunday.