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The remarks came as Li met with a delegation of business leaders with the US-China Business Council, led by its chairman, Evan Greenberg, at the Great Hall of the People in Beijing.

The remarks followed a central bank announcement Tuesday to ease restrictions on foreign institutional investors in a step to further open its financial market.

The report cited the Suzhou Museum in Jiangsu province as a positive example of developing unique cultural and creative products such as cookies and seeds.

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The report said several other factors have also impacted upon investment levels. These include strong competition from South Korean investors, the steady recovery of the pound against the renminbi, and the UK's scheduled withdrawal from the EU on March 29, 2019.

The report attributed auto sales decline partly to the expiration of favorable purchase tax policies. China restored car purchase tax to 10 percent at the beginning of last year after setting it at 7.5 percent in 2017 and 5 percent in 2015 and 2016.

The report on senior consumers, released on Tuesday, said fraud and deceptive advertising are used by some tourism and healthcare companies that depend heavily on those customers.

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The report came after the IMF said earlier Tuesday in its World Economic Outlook report that the global economy is on track to contract "sharply" by 3 percent in 2020 as a result of the COVID-19 pandemic, the "worse recession" since the Great Depression in the 1930s.

The report cited the US Department of Agriculture recent forecasts that global consumption would outpace output growth by 2.8 million tons over the marketing years of 2019 and 2020.

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The region will continue its efforts to eliminate extremism and expose those who secretly support terrorism, extremism and separatism, he said.

The report released by the Canada China Business Council and Rotman School of Management surveyed a cross-section of Canadian companies doing or considering doing business in China, as well as Chinese companies with the same intentions in Canada during 2016.