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China has been ASEAN's largest trading partner for 10 years, according to the Ministry of Commerce. Meanwhile, in the first quarter of 2020, ASEAN replaced the European Union as China's largest trading partner, accounting for 15.1 percent of the nation's global trade volume during the period, according to the General Administration of Customs.
China has a leading role in the global transformation towards new development models, characterized by technological innovation and based on intangible and digital assets, Klaus Schwab, founder and executive chairman of the World Economic Forum, said in a speech at Nankai University in Tianjin on Tuesday.
China eliminated more than 65 million tons of steel production capacity and over 290 million tons of coal last year, beating government annual targets.
China has come up with supportive policies since 2016 to promote green financing, including offering interest subsidies through refinancing and professional guarantees, as well as setting up a national green development fund.
China has made substantial progress in IPR protection and it is imperative for the country to better protect its IPR, failing which it would be unable to build a proper credit system and make technological advancements, Lou added.
来源：资阳报