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"COVID-19 has made a big impact on consumption," Li said. "For China to achieve positive growth this year, boosting consumption is vitally important. Efforts should be made in line with our own national conditions to expand channels of consumption and stimulate domestic demand."

"China is an important economic partner of ASEAN, and at a time when the developed economies are suffering from a sharp downturn, China is the only large source of demand that could still be growing," said Manu Bhaskaran, founding director and CEO of Centennial Asia Advisors, an economic consultancy in Singapore.

"CSRC will actively promote the opening-up of the securities market, firmly implement each opening-up policy and continue to well manage the review work of setting up securities JVs or changing their actual controllers according to laws and regulations and in an efficient way," the commission said.

"Certainly, the trend has been to slowly increase the number of the film quota year by year," said Hou. "Besides pressure from the World Trade Organization, there is also growing domestic demand for content.

"COFCO is a very ambitious, energetic and innovative organization with a great team and exciting plans for the future, which matches our own aspirations, both for China and as a group."