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"But still, bilateral trade has been growing so fast. It has benefited both countries. As people do more bilateral trade and investment with each other and there is more and closer contact between each other, competition will also increase. This is just a fact," he said.

"China intrigues me. Because it is yet another laboratory for economic development. I think it is so exciting and so interesting. And that's not something we have in front of us in the West," he says.

"By strengthening the people's congresses' supervision over expenditure budget and policies, the guiding and constraining effects of policies on relevant budgets will be enhanced," the guideline said, adding that relevant measures would also help ensure that the CPC Central Committee's major principles, policies and decisions are better implemented with budgetary arrangements and policies.

"China has become the second-largest business jet market, and it also enjoys the fastest growth in the world," Liao Xuefeng, chairman and CEO of China Business Aviation Group, said while attending the annual three-day Asian Business Aviation Conference & Exhibition, which opens on Tuesday in Shanghai.

"China has made positive progress in strengthening its financial regulatory system and resolving financial risks since the Party's 19th National Congress in October under the leadership of the CPC Central Committee, with Xi Jinping, general secretary of the committee, at the core," he told a special consultative meeting of the Chinese People's Political Consultative Conference, the country's top political advisory body.