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Apart from the airport, the EEC project also calls for investment in high-speed rail, smart cities and industry development, where Thanadtang said the Belt and Road Initiative can be of help.

Another report released by the SIC earlier this year showed China's sharing economy saw transactions worth 2.94 trillion yuan last year, up nearly 42 percent year-on-year.

Another factor contributing to China’s achievements has been opening-up, which has helped China to leverage its comparative advantages and raise its competitiveness and development level by integrating it into the global division of labor and industrial and value chains. In this process, we have also endured huge pressure, paid a high price, and experienced growing pains. Some obligations China assumed upon WTO accession far exceeded what was required of a developing country and even approached the level of a developed member. For example, China undertook to cut tariffs for agricultural products to around 15%, only one quarter of the world’s average level and lower than that of many advanced economies. Some industries in China were inevitably affected in the open marketplace, leading to bankruptcies and lay-offs. In some sectors, domestic brands came to be outnumbered by foreign ones, such as in passenger vehicles.

Ant's hit product Alipay, a digital wallet designed for settling payment on shopping sites of Alibaba Group Holding Ltd, has now extended new functions like lending, credit-scoring and on-demand services that many of its 870 million users globally rely on.

Anne Schuchat, second in command at the CDC, said that limited testing and delayed travel alerts contributed to the rapid spread of the novel coronavirus across the United States.