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China has approved nearly 200 standards in key telecommunication areas and called for global efforts promoting 5G development – particularly in setting 5G standards.

China has been making efforts to reform and develop the global governance system. Xi Jinping, general secretary of the CPC Central Committee, emphasized the community of a shared future for mankind in his keynote report delivered to the Party Congress on Oct 18.

China has a relatively low level of nonperforming loans, compared with some other countries, so the regulators will have more room to adjust the policies, Fan said.

China filed a complaint to the World Trade Organization (WTO) against the EU over high poultry tariffs in April 2015, putting forth a consultation request and formally starting WTO dispute settlement procedures.

China banned US beef in 2003 after a case of bovine spongiform encephalopathy, or mad cow disease, in Washington state. Since the ban was introduced, China has experienced a beef boom.