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As many central SOEs have been urged by the central government to implement more opening-up policies to expand foreign investors' shareholding in certain sectors, he said State-owned groups in the retail, manufacturing, healthcare, transportation and logistics sectors should also move with a greater sense of urgency.

As many parts of the world still confront trade protectionism and fierce commercial competition, CCPIT, the country's foreign trade and investment promotion agency, will support SMEs to improve their ability in the creation, protection and application of intellectual property rights via its global service network and partnership with other governments or international organizations.

As part of the inquiry both witnesses and experts will be called upon to deliver findings, ensuring that the lessons are not lost and that in the future authorities at all levels can better coordinate for the safety and benefit of the public.

As of Monday night, the country has recorded more than 7.8 million confirmed COVID-19 cases and over 214,000 deaths, according to a data-tracking tool developed by Johns Hopkins University.

As of June 30, the non-performing loan balance of Agricultural Bank of China Ltd declined by 8.1 billion yuan (.2 billion) from the beginning of this year to 185.9 billion yuan. Its NPL ratio dropped by 19 basis points to 1.62 percent.