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"China's current foreign debt ratio is much lower than the international level," the ministry said.

"China's vehicle market has entered a new era of high-quality development, in which product and service excellence will be the key to sustained growth," said Matt Tsien, GM executive vice-president and president of GM China.

"Consumers in the US and China are unequivocally the losers from trade tensions," the study said.

"Chinese fintech companies can also increase their international presence in the sector, and seek more cooperation opportunities by setting up branches in central and east European countries. However, risk management may still prove to be a major challenge," said Wang.

"Collaborating with outstanding partners like WaveForm is a highly important cornerstone of Bayer's strategy to transform innovation into meaningful solutions for patients," said Marianne De Backer, member of executive committee of Bayer's Pharmaceuticals Division and head of Business Development & Licensing. "China is a key focus of our partnering efforts and we are continuously looking for partners developing digital technologies."