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The humanoid robot is the brainchild of Chang Lin and his entrepreneurial team, who focus their attention on educational robots in the firm belief that the sector is about to take off.

The initiative, which comprises the Silk Road Economic Belt and the 21st-Century Maritime Silk Road, was proposed by China in 2013 with the aim of building a trade, investment and infrastructure network connecting Asia with Europe and Africa along and beyond the ancient trade routes.

The industrial robot vocational skills competition and the industrial forums will play their roles in leading local enterprises to develop industrial robot technologies and applications, in a bid to enhance the enterprises' automated production and technology upgrading, Wang noted.

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The inland ports will offer customs and inspection services so that goods can be directly transported to the port of Qingdao and from there to their global destinations.

The inspection found that the ongoing supply-side structural reform is progressing in a steady manner as the economic structure keeps optimizing.

The institute has signed a contract with a local apparel company worth 160 million yuan to develop and manufacture lightweight, anti-bacterial and comfortable soles.

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The increase was mainly due to rises in trade credit amid rising imports and in debt securities as China further opens its bond market to overseas investors, said Wang.

The initiative, said Gounder, emphasizes five key areas of cooperation: coordinating development policies, forging infrastructure networks, strengthening investment and trade relations, enhancing financial cooperation, and deepening social and cultural exchanges.

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The initiative aims to build a trade, investment and infrastructure network connecting Asia with Europe and Africa along the ancient Silk Road.

The institute, established in September last year, was the country's first institution committed to promoting the development of green finance. It aims to become a leading international think tank for green finance, according to Wang Yao, head of the institute.