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"CIIE is a welcome sign that China continues to open up its economy to Canada, and Canadian exporters, traders and investors shall cherish the access to the massive Chinese market," said Shantz, adding that it is important for Canada to join with China in defending global trade and multilateralism.

"China firmly opposes any interference by foreign governments, institutions and individuals in Hong Kong affairs," Hua stressed.

"China has become the largest trade partner for 25 of these countries," he said at a press conference.

"By making this adjustment, the regulator hopes that banks will fully expose their non-performing loans and truly disclose their risk situation with more accurate capital adequacy ratios and coverage ratios of allowance for loan impairment losses to NPLs. It will be favorable for them to write off and resolve bad assets," said Xiong Qiyue, a research fellow at the Institute of International Finance at Bank of China Ltd.

"China opened-up in 1978 and then established diplomatic relations with the US in 1979. We have been building the bridge for US-China economic cooperation since 1981. Although the US and China are going through some trade disputes, we believe it's only a short term problem," Huang said.