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"Furthermore, it will help us better serve our local customers with innovative technology, localized products and flexible business models to support the transformation and upgrade of the Chinese automotive industry," Wang said.

"Having successfully managed the effects of the COVID-19 pandemic with the support of the Chinese authorities, Nestle has decided to increase its investments in China which is another clear demonstration of our long-term commitment and confidence in the country," said Rashid Qureshi, chairman and CEO of Nestle Greater China Region. The company announced new investments of over 730 million yuan to enhance its product portfolio in late May.

"For the time being, offshore yuan in Hong Kong has been mostly used in the financial investment area, limited to stores, companies and banks. The digital yuan may expand the use of the currency into more scenarios closely linked with ordinary people's daily lives, offering a solution to a lack of liquidity and inadequate use of yuan in the city," Chen said.

"From a long-term perspective, population determines economic growth. Even though it will take a certain amount of time, the number of consumers will determine the potential of economic development in both developed and developing economies," he said.

"From the beginning of the year, the Chinese economy has been stable and has shown improving momentum," Ning said during an interview in the so-called "minister's passage" at the annual meetings of the national legislature and the top political advisory body.