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"Competition is one of the best mechanisms to promote innovation, and help maintain the vitality of every company." he said.

"Completion of the contract is conditional on a number of matters, including gaining the necessary regulatory approvals," the service said in a statement. "The parties are working together to conclude a sale as soon as reasonably practicable."

"Considering the fact that government expenditures on social security accounts are more than 20 percent in some countries, such as the United States and Germany, China still has potential to invest more," he said.

"China's central bank will likely maintain the current policy to allow the yuan's exchange rate to move at a reasonable level," said Yeung. "China will not and has no intention to push for competitive depreciation."

"China's economy has reached a point where it cannot be adversely affected by trade protectionism of the certain country. China now has the largest foreign exchange reserve in the world," Cairo-based economic expert Abu Bakr al-Deeb told Xinhua.