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China launched trading of crude oil futures contracts on Monday in its steady moves to further open up the financial sector.

China retains the 14th spot in the top-performing economies in the Global Innovation Index 2020 released on Sept 2. "The pandemic has severely hit developed countries, causing a steep reduction in the degree of their centrality in trade networks, but has not affected the central position of China," the article argued.

China officially launches the STAR Market at the Shanghai Stock Exchange on June 13, 2019. From left to right: Chairman of the China Securities Regulatory Commission Yi Huiman, Vice-Premier Liu He, Shanghai Party Secretary Li Qiang, and Shanghai Mayor Ying Yong attend the launch ceremony. [Photo by Zhang Hengwei/China News Service]

China stands head and shoulders above this backdrop. The CPC swears by austerity, probity and single-minded focus on nation building, with the only grandeur flowing from the stately venues of the congress.

China is willing to work with India on the basis of the Five Principles of Peaceful Coexistence to improve political mutual trust, promote mutually beneficial cooperation, and push Sino-Indian ties along the right track, he said.