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Rasmussen said developing a comprehensive strategic partnership with China is a diplomatic priority for Denmark and invited Chinese investment to Denmark.

Reform and opening-up should be furthered to stimulate market vitality and withstand downward economic pressure to keep the economy within a reasonable range, he added.

Recent years have seen a slowing in the growth of the Chinese economy, but the country has managed to keep creating new employment opportunities. More than 13 million new jobs were created every year in the past five years in urban areas.

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Regarding China specifically, SIC predicted an annual growth of 40 percent in sharing economy market volume. By 2020, the sharing economy is estimated to account for over 10 percent of China's GDP, according to Zhang.

Rail passengers in Xi'an used crowdfunding to help determine the scheduling of two trains during the National Day travel rush.

Rao Hong, chief technical expert for the grid, said the system can improve stability, safety and flexibility to further support the transmission of electricity from west to east.

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Recalling that he witnessed the awarding of an honorary doctorate by Tsinghua University to Putin in April, he said Tsinghua University and St. Petersburg State University, respectively his and Putin's alma mater, are outstanding representatives of higher-education institutions in China and Russia.

Reform of China's value-added tax (VAT) will start from April 1, cutting the VAT rate for sectors including manufacturing from 16 percent to 13 percent.

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Reducing and eliminating poverty has been the challenge facing all developing countries.

Red deer get together to enjoy the sunshine. [Photo by Qi Yingtao for chinadaily.com.cn]