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The Belt and Road Initiative, proposed by China in 2013, aims to build trade and infrastructure networks connecting Asia with Europe and Africa on and beyond the ancient Silk Road routes. It comprises the Silk Road Economic Belt and the 21st Century Maritime Silk Road.

The CDB inked a memorandum with Deutsche Bank AG, one of the largest lenders in Europe, on Wednesday for an initial cooperation plan worth about billion during the next five years.

The CPC said the central contradiction facing Chinese society has evolved from "the ever-growing material and cultural needs of the people and backward social production" to "unbalanced and inadequate development and the people's ever-growing needs for a better life."

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The Beijing-headquartered company said its international revenue grew 118.1 percent to 70 billion yuan, accounting for 40 percent of its total revenue. Its net profit last year reached 13.48 billion yuan.

The Banma system, now in its 3.0 version, has caught the eye of the US carmaker Ford, with its latest Kuga SUV produced in China to be the first model to use the system.

The Belt and Road Initiative, which comprises the Silk Road Economic Belt and the 21st Century Maritime Silk Road, aims to build a trade, investment and infrastructure network connecting Asia with Europe and Africa along and beyond the ancient Silk Road trade routes.

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The Belt and Road Initiative can certainly help build confidence and direction in our deal flow between China and North Australia and help the innovation hub work with the right business in China, Paroulakis said.

The CIIE is the first dedicated import exhibition in the world, and has seen fruitful outcomes in the past two editions. Last year more than .13 billion in deals were reached, up 23 percent from the first expo.

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The Belarusian subsidiary of Huawei, a global provider of information and communications technology solutions, and the China-Belarus Industrial Park launched an innovation center on May 14. It will introduce Huawei's technologies, solutions and products in the areas of infrastructure development, industrial park operation and smart technology services.

The COVID-19 pandemic has hit Hong Kong's economy, while the so-called sanctions imposed by the United States on Hong Kong have dealt an additional heavy blow, she said.