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He admitted that it's not easy for the public to understand that there is actually no relationship between the US trade balance and China's.

He added that the committee also planned to help the NPC Standing Committee, the top legislature, conduct research on the country's supervision reform and look into new problems in the implementation of the National Supervision Law.

He added that the debt level of large industrial companies has steadily dropped in recent years. In late August, their average debt-to-asset ratio was at 56.6 percent, dropping 0.5 percentage point from a year earlier.

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He also predicted the trend of the opening-up of financial market will be further encouraged.

He analyzed the industry from various points of view including that of market demand and government support.

He added that China has channeled more funds into environmental protection and encouraged all sectors of the society to participate in conservation.

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He also is a professor at UCLA and a part owner of the NBA's Los Angeles Lakers.

Having first imported king crabs via the route in 2017, Wang can now import up to 50 tons of the seafood each day. He is expanding his trade business in Thailand and other Southeast Asian countries.

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He added the new research consortium could potentially become a platform for China-UK cooperation, extending and further strengthening the ties between Lancaster University and its partners in China, to produce more "golden fruits" and contribute to the "Golden Era" of the China-UK relationship.

He added that the size of the market for foreign language education in China is expected to reach 600 billion yuan by 2020, and the market size of overseas study services might exceed 56 billion yuan.