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As the world's largest developed country and the largest developing country, the United States and China also need to negotiate a new trade deal, covering issues including the steel and aluminum industries, investment, State-owned enterprises and intellectual property rights, according to Bown.

As the fund's general partner, Cainiao will operate and manage the assets and invest in logistics-related real estate projects, according to the statement. Morgan Stanley serves as the deal's sole financial advisor.

As well as the low price of electricity, increasing disposable income in countries such as China and India means they are predicted to be the growth markets for air conditioning systems, and, these are also the areas of the world most likely to be affected by global warming.

As the first district set up in the city－which borders the Hong Kong Special Administrative Region－Luohu is considered a perfect example of Shenzhen's reform and development, and it has set many records as a pioneer of reform. For instance, it was in Luohu where the first foreign bank, the first stock exchange and the first Sino-foreign joint venture hotel on the Chinese mainland were founded.

As the country's top-level policymakers have proposed a new development pattern featuring "dual circulation"－which takes the domestic market as its mainstay, with domestic and foreign markets connecting and supporting each other－financial opening-up and structural reforms will be further promoted to support the development strategy, experts said.