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Wang Shouwen, vice-minister of commerce, said China supports reform of the international body to enhance its "authoritativeness and effectiveness", since unilateralism and protectionism are on the rise.

Wang said the new carriages can save more than 7.5 percent of the energy consumed to power the trains presently. It will complete its trial run on a route linking Beijing and Shenyang in Liaoning province in the summer of next year.

Wang said the other two lines－the Dali-Lincang Railway and the Dali-Ruili Railway－aiming to connect with Myanmar and other Southeast Asian countries are also under construction.

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Wang said all proceeds from the deal would be used to repay loans and lower its debt-to-asset ratio. The conglomerate is looking to pay off the major chunk of its bank loans by the year-end and clear all the debt within the coming three years.

Wang expects infrastructure investment to see a major rebound and contribute to growth.

Wang from AstraZeneca said, "The CIIE provides an excellent platform for empowering bilateral innovation exchange and cooperation between domestic and foreign partners.

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Wang Zhiqin, deputy head of the China Academy of Information and Communications Technology, a government think tank also known as the CAICT, said China's three major telecom operators have built about 156,000 5G base stations by early February.

Wang Zhendong, chairman of the consultancy firm Shanghai Feiyue Investment Management, said, in the face of pricing challenges brought by competitors such as Luckin Coffee, Starbucks has to offer more breakthroughs and innovations, as well as more accurate services to please consumers in order to maintain profitability.

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Wang Yiwei, director of Center for European Studies at Renmin University of China, draw a bold vision for the future: "The Belt and Road Initiative will create a new, 3-billion-people strong new middle class by 2050."

Wang Zhimin, director of the Liaison Office of the Central People's Government in the Hong Kong SAR, speaks out against the violent attack on the office in Sai Wan by masked protesters the day before, July 22, 2019. [Photo provide to chinadaily.com.cn]