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And they have to act quickly, Fan said.

And now, these innovations are becoming China's best-known exports too, promising to enhance the quality of billions of lives worldwide, thus heralding a wave of world-class Chinese businesses.

And on Thursday, the Financial Stability and Development Committee, the country's Cabinet-level financial regulatory body and part of the State Council, China's Cabinet, stressed several priorities: balance the relationship between stabilizing growth and preventing risks; enhance counter-cyclical adjustments; further reform the capital market as well as small and medium banks; ensure healthy development of the private fund industry; achieve financial inclusion and fair competition; encourage commercial banks, especially small and medium ones, to increase capital through multiple channels; improve the long-term mechanism to prevent, resolve and dispose of financial risks, so as to stabilize the financial system and sustain the economic and social stability.

Analysts said that if the Kim-Putin summit does occur, the main issues on the agenda would likely be continuing the denuclearization process on the Korean Peninsula and boosting the DPRK's diplomatic ties with Russia, focusing on political as well as economic fronts.

And safety and convenience have likewise spurred more consumers across the region to use digital wallets as social distancing has become the norm amid the COVID-19 outbreak.