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Meanwhile, data showed consistent growth of China's FDI in economies involved in the Belt and Road Initiative, especially in sectors including transport, utilities, logistics and infrastructure.

Meanwhile Chinese local firms, especially traditional drug makers, often rely on generics for a large share of sales and revenues, and lag behind in developing new drugs, he noted.

May Day holiday travel was disappointing for Hong Kong's tourism industry this year as the city's economy continues to suffer the effects of COVID-19 and social unrest.

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Meanwhile, in addition to building supply chains with Europe and the United States as much as possible, it is also important to integrate industries and supply chains in countries along the Belt and Road, he said.

Maybe that’s the yet-to-be-realized fourth wave. If the historical rate of change is any indication, we won’t have to wait long too find out.

Meanwhile, grain to be harvested in the fall is growing normally. The spread of the crop-eating fall armyworm, a species that entered China from Southeast Asia in January, has decelerated, laying a foundation for an overall good harvest this year, he said.

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Meanwhile, it is a boon for industrial and business communities and consumers of both nations, as it has achieved a result of win-win and mutual benefit, which is also well received by the international community and financial markets.

Meanwhile, overseas card networks are likely to strengthen their advantage in cross-border payments service, focus on high-end clients, and highlight the improvement of user experience to satisfy the demands of clients amid renminbi internationalization, said experts familiar with the payments industry.

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Meanwhile, Mercedes-Benz also launched the first electric racing model, the EQ Silver Arrow 01. The auto giant said it is investing 10 billion euros (about .20 billion) in developing electric vehicles and building a new global battery production network.

Meanwhile, China's GDP is expected to grow 2.2 percent in 2020 and 7.8 percent in 2021, according to the report.