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China is actively shaping a new development paradigm while it expands domestic demand and opening-up, which will bring new opportunities to Germany, Xi said.

China is likely to become the world's largest local government bond issuer within five years — given the fast growth of the Chinese version of municipal bonds — as a way to facilitate debt restructuring reforms and further strengthen fiscal consolidation, an expert told China Daily.

China is the biggest market for Tesla outside the United States. "With the talent base in Beijing, we plan to conduct further cooperation with the municipal government, research institutes and colleges and universities," said Ren Yuxiang, vice president and head for the Asia Pacific.

China imposed anti-dumping duties on caprolactam in 2011 on the grounds that the products were being dumped on the Chinese market at below market prices.

China is firmly determined to safeguard its sovereignty, unity and security, Geng added, calling again for the US to cancel the plan, stop selling arms to Taiwan and cut military ties with it.