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Despite the raging pandemic, Sepulveda said, the crisis has brought opportunities to the wine market with an increase of online sales, thanks to "all the tools that the Chinese people have and which they manage much better than the rest of the world."

Digital economy refers to the use of the internet, and technologies like cloud computing, big data and artificial intelligence in a variety of industries and sectors to drive economic growth in the digital era.

Detailed policy arrangements have been drafted as part of efforts to launch the program as soon as possible, according to the Shanghai bourse.

Director of the OECD Directorate for Financial and Enterprise Affairs Greg Medcraft said China has adopted measures to encourage free trade, and free trade has traditionally driven economic growth worldwide.

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