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The country will also improve the mechanism for regulating the money supply and keep the macro leverage ratio basically stable, while properly handling the relationship between economic recovery and risk prevention, the PBOC said.

The conference is expected to attract more than 600 global executives, government officials and experts. So far, senior executives from 88 global service trade companies have confirmed their attendance.

The consensus belief, at least hope, is that the Fed's extreme expansionary policies will rescue the US economy, at least until the next crisis. However, well-known mainstream economist Stephen Roach, now a faculty member at Yale and former chairman of Morgan Stanley Asia, last month predicted that the dollar will fall 35 percent by early 2021, adding credibility to those who fear that the dollar-based financial system will not survive this crisis.

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The consultancy found that Chinese companies recorded 34.4 percent jump in R&D expenditure to reach .1 billion in 2018, eclipsing the global average of 11.4 percent.

The concept of the "median line" was created around 1955 by US General Benjamin Davis Jr, commander of the US Air Force Air Task Force 13, which was then based in Taipei, after Taiwan signed a mutual defense treaty with the US. The line was later redrawn by Taiwan defense officials and the latest coordinates were published in 2004.

The construction of other sections, the second 11 km section, the third 119.5 km section and finally the fourth 119 km section, will begin gradually.

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The cooperation memorandum, signed among local authorities, marked a fresh step taken to further boost regional integration, said Zhang Ying, chief engineer of the Shanghai Commission of Economy and Information Technology.

The contrasting landscapes mark the vastness of Xinjiang, which covers about one-sixth of China's land territory, and epitomizes how Xinjiang has progressed both economically and culturally.

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The country will bring pension schemes under this management as soon as possible, according to the report to the 19th National Congress of the Communist Party of China in 2017.

The country will continue to work on a number of fronts, including promoting industrial development in poor regions, giving the poor easier access to employment services, healthcare and education, and improving infrastructure in poor regions, he said.