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LONDON, Feb. 18 (Xinhua) -- The China-Britain Entrepreneurship Competition, an initiative aimed to support and encourage new business ventures between China and Britain, was launched on Wednesday in Newcastle of Britain.

Economic growth and defense buildups should both be achieved in a coordinated, balanced and compatible way, the circular said.

"Egypt would like to make joint efforts with China to plan and promote bilateral exchange and cooperation in a comprehensive way," he added.

Budgetary revenue from the central government's state capital operations was 161.292 billion yuan, which is 104.1% of the budgeted figure and an increase of 14.3%. Adding in the 14.398 billion yuan carried forward from 2014, total revenue stood at 175.69 billion yuan. Budgetary expenditures on the central government's state capital operations came to 135.967 billion yuan, which is 80.3% of the budgeted figure and a decrease of 4.2%. This shortfall was mainly due to slower than expected progress in the reform of collectively owned businesses operated by state-owned enterprises (SOEs) and in the reform to relieve SOEs of the burden of providing water, electricity, heating, gas, and property management services to their employees' homes. Of the total expenditures on the central government's state capital operations, 123.537 billion yuan was spent at the central level, which includes 23 billion yuan brought into the general public budget and used for ensuring and improving the people's quality of life as well as 12.43 billion yuan used as transfer payments to local governments. A total of 39.723 billion yuan of budgetary revenue from the central government's state capital operations was carried over to 2016.

On China-U.S. relations, she said as the two countries have growing common interest in world affairs, they need to cooperate to address global challenges.