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"China Chengtong will team up with other investors including Baidu, Alibaba and Tencent to help China Unicom develop in cloud computing and big data," Li said. "More important, through the fund investors can share the opportunity to participate in SOE reforms."

"China is sure to see abundant labor force in the future, and we are committed to boosting the quality of labor and building China into a country with strong human capital resources."

"China is not in its bones a nation state but a civilization state. China has always had to accept a great deal of diversity across the country. Nation states such as in the West, where there is much greater homogeneity, would not be able to tolerate that difference," he said.

"But we can obviously see that trade cooperation yielded more fruit for ASEAN countries than China, as ASEAN exports various kinds of agricultural and tourism products to China while it imports only a few," he said.

"China continues to defy predictions of a hard landing," said Jan Dehn, head of research at Ashmore Investment Management Ltd.