The government has already started financial deleveraging and many financial institutions have been cutting exposure to shadow banking credit, giving the overall financial system much cleaner balance sheets and more sufficient capital for financial institutions to protect themselves, Lu added.
The fourth World Internet Conference's forum on artificial intelligence has become a spotlight in Wuzhen, East China's Zhejiang province, Dec 4, 2017.
The foundation now has an institute in Beijing, working on developing new drugs to cure tuberculosis, one of the top 10 causes of death worldwide, he said.
The global recovery in 2017 was also helped by a rebound in trade. Despite rising anti-globalization sentiment, China has been an active promoter of foreign trade, with its total goods trade volume accounting for 8.8 percent of the world in the first 11 months of 2017, according to World Bank data.
The four decades of reform had three major development milestones for the sector in 1986, 1993 and 2007.
The fresh record comes as some Brazilian leaders continue to belittle the virus, warning that the economic fallout from quarantine measures will be worse than the virus itself.
排名精灵seo
The government has also optimized services for companies and increased export tax rebates. Official data show China granted export tax rebates or exemptions worth 812.8 billion yuan in the first half of the year to relieve the financial pressure on companies.
The government will encourage them to establish independent financial companies and apply for financial licenses to better serve the real economy by using their own capital, said Xiao Yaqing, chairman of the State-owned Assets Supervision and Administration Commission.
The goal includes having a group of leading SOEs that are dominant in international resources allocation, Xiao Yaqing, chairman of the State-owned Assets Supervision and Administration Commission, said at a forum on the reform and development of Chinese enterprises.
The government will also further cut red tape and streamline approval procedures, improve the business environment and make bigger efforts to attract foreign investment. The use and protection of intellectual property rights will be strengthened, and government compliance oversight will be reinforced.