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As for challenges, cutting overcapacity will be necessary for the long-term benefits of the economy. We support the government's deepening of supply-side structural reform. It is another step closer to sustainable development.

As competition to attract talent has intensified between major cities in recent years, many have unveiled packages to lure ambitious young people. However, permanent household registration, one of the key incentives offered by many cities, appears to be losing its appeal.

As for domestic skilled workers, the city encourages local talents to attend global skill competitions, and will award up to half a million yuan to prize winners.

As an old Chinese saying goes, every success depends upon good preparations. Beijing and Washington must fully recognize the persisting, intricate and challenging nature of the China-US trade issues. The two sides shall follow the principles set by the two heads of state, keep economic cooperation on the track of mutual benefit and win-win outcomes, make full use of the newly-established dispute-resolving mechanism and other platforms for dialogue, meet each other halfway along the right path toward solving the issues, and get off to a good start for China-US economic and trade ties in the new era.

As a number of economies are confronting issues like growth slowdown and seeking new opportunities to grow in the aftermath of COVID-19, Cong stressed the BRI will continue to make Chinese and partner economies more competitive, narrowing development gaps between landlocked countries and coastal regions.