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Wang Yi, China’s state councilor and foreign minister, at the Sixth Round of Dialogue of Foreign Ministers of China and the Quartet of the Community of Latin American and Caribbean States (CELAC) at the United Nations headquarters in New York on Tuesday. [Photo/CHINA NEWS SERVICE]

Wang Meijuan can hardly recall when she last paid in cash. Whether it is having meals in restaurants, taking a taxi, or shopping at supermarkets, Wang said she paid everything with her smartphone instead of card or cash.

Wang also briefed Bounnhang on the fourth plenary session of the 19th Communist Party of China Central Committee, saying China is willing to work with Laos to enhance experience exchanges in governance and jointly develop their socialist systems featuring different characteristics.

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Wang also said countries should make full use of multilateral platforms, including the International Monetary Fund, the World Bank and the G20, to strengthen dialogues and resolve debt and financial risks globally.

Wang added that the 17+1 platform is a part of China-Europe cooperation and a useful supplement to China-EU cooperation. He also emphasized that it was voluntary cooperation based on mutual needs and had no intention of reinventing the wheel or splitting Europe.

Wang Xiao, crude oil research director at Guotai Junan Futures, said that the performance of the crude oil futures has exceeded market expectations over the past 18 months. Apart from the trading volume and the involvement of overseas investors, the crude oil futures at Shanghai have shown due independence in terms of reflecting the global market ups and downs, he said.

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Wang Yiwei, a professor of international relations at Renmin University of China in Beijing, said the China-proposed Belt and Road Initiative has become one of the largest platforms for global cooperation, with more than 130 countries and 30 international organizations participating.

Wang said industrial production peaked in the village in 2008. But since then, most of the US and European clients have disappeared, he said, adding that "OEMs were never the future for us".

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Wang said Singapore, Thailand, Indonesia and Malaysia have plans to build high-speed rail links, which could further fuel hopes that Southeast Asia would one day have a unified rail system similar to the one in Europe.

Wang also expressed his hope that all parties will stick to the principle of fair competition and let markets play a decisive role in the allocation of resources so that companies of all countries will enjoy a business climate that is fair, just, open and nondiscriminatory.