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He expects that full-year credit will grow by about 12.5 percent, with new yuan loans to stand at around 13.5 trillion yuan for 2017.

He called on the two countries to make further efforts to move forward cooperation in various fields to pursue sustained growth so as to bring more benefits to the two peoples and inject even stronger impetus into the two countries' development and rejuvenation.

He believes it may take around 10 years to get a full harvest.

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He noted that most Chinese people he had met and spoken to when doing his research are generally content with the present system.

He expressed concern that a much lower interest rate will mitigate the debt service burden and hence weaken the incentive to address the soft budget constraints for State-owned enterprises and local government entities, which is key to resolving China's debt problem in the long run.

He described recent statements from US President Donald Trump as those of "a showman" who "obviously relishes" celebrity, noting that the recent escalation in trade rhetoric could reflect the proximity of US midterm elections in November this year.

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He noted that China is seeing capital inflows, thanks to the gradual opening up of its capital markets, especially the huge bond market, and moves to stabilize the economy.

He believes that people need to be well informed about all aspects of the vaccines; if not, they may fall prey to conspiracy theories.

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He instead urged Filipinos to follow the advice of the Department of Health, maintain basic hygienic practices and use their face masks properly.

He expressed his company's desire to partner with local enterprises to promote e-commerce which he said was the future of entrepreneurship.