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Talks begin on an investment protocol; 2020 trade target set at $1 trillion

China's real GDP growth is expected to improve modestly from 7.6 percent this year to about 7.8 percent in 2014, investment bank UBS said in a report

Urbanization and an expanding middle class, particularly in Asia, will be the major engine for the world economy.

China's growth momentum softened a little in November, as the HSBC Flash China Manufacturing PMI moderated due to the weak new export orders and slowing pace of restocking activities.

Xiang Huaicheng said "indirect taxation" is serving Chinese econommy well with Chinese characteristics.

According to Mr. Yu, the U.S. quantitative easing is a policy used by the government to keep its interest rate artificially low by printing money, while reducing the government's huge debt burden.

"Nothing can stop Chinese from pursuing better life," Liang addressed Tuesday at the Caijing Annual Conference 2014.

China drew $8.42billion in foreign direct investment (FDI) in October, up 1.24 percent from a year ago, the ninth consecutive monthly rise seen this year

Caijing Annual Conference 2014 is being held in Beijing, from Nov 18-20. Former US President Bill Clinton and US Ambassador to China Gary Locke have addressed at the meeting today.

Lin, now a State Council advisor,estimated that China's per capita annual income is likely to reach $12,700 by the year of 2020, compared with over $6,000 last year.

Officially launched on Sept 29, the FTZ adopted a "negative list" approach, which specifies bans or restrictions on certain types of foreign investment.

Without enough financial and policy support, reform of the household registration system will become "no more than an empty talk," says economist Hua Sheng.

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