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China aims to eliminate absolute poverty by 2020 before becoming a moderately prosperous society. China has lifted 68.53 million people out of poverty over the past five years, which is equivalent to an annual reduction of at least 13 million. The country's poverty rate dropped from 10.2 percent in 2012 to 3.1 percent in 2017. Despite this progress, there were around 30 million Chinese living below the national poverty line at the end of last year.

"The brand put years of work into it, sponsoring many events, such as the HSBC World Golf Championships in Shanghai, where we did a launching at the Great Wall of China," Schwartzmann told Xinhua.

In the case, a person surnamed Hong offered a loan to Fanhua company and a debtor surnamed Lin to establish Yuanhua company, with Hong holding 90 percent of Yuanhua's stock rights.

At a high-level meeting in November, China proposed to strengthen innovation cooperation with CEE countries, with more energy to be put into industrial parks in capacity, energy, logistics, and agriculture.

It called on efforts to further streamline administration and delegate powers. The direct allocation of market resources by the government and the direct interference in market operations should be reduced to the utmost.