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The country is expected to maintain a basically balanced current account and the overall stability of cross-border capital flows over the year, Wang said.

The cooperation has boosted the economic development of the two countries. The total volume of imports and exports between Weihai and South Korea in 2017 reached billion, nearly double the number of 2015, a report by the China Business News said.

The corridor is expected to offer a shorter and more direct trade route between western China and Southeast Asia, and will lower logistics costs, enhance cross-border trade flows, and catalyze the economic development of both regions, in particular the provinces along the corridor, said the minister.

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The conference, themed " Joint Efforts Key to Cyber Credit System", was co-organized by the China Federation of Internet Societies and Cyberspace Administration of Shandong.

The country will put efforts to develop infant and child care services, speed up the construction of a batch of demonstration childcare and early childhood education agencies, Lian added.

The confirmation came a day after Biden disclosed he has asked Fauci to be his chief medical adviser and part of his administration's COVID-19 response team.

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The country saw 4,625 and 2,539 all-cargo flights via renovated passenger jets, respectively, in the past two months, which cushioned the tough blow to the civil aviation sector brought about by the pandemic, Jin added.

The country will further open the capital account, especially for some items that are still unavailable for free currency exchanges. Foreign exchange trading will be more convenient for foreign investors, according to Pan, who is also head of the State Administration of Foreign Exchange.

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The country began to import meat products from 16 more countries in 2019, with imported meat hitting 5.49 million metric tons in the first 11 months, climbing 42 percent year-on-year, customs data showed.

The coronavirus pandemic has fundamentally changed many aspects of liquor consumption in China, having created a new environment for drinking and shifted sales from offline to online.