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"China is a country with a high savings rate, which currently stands at 46 percent, and the large amount of savings is transformed through banks into corporate loans, which is likely to drive up the leverage ratio."

"Carrefour's strengths in supply chain, offline operations and brand management, together with Suning's logistics network and technologies, will further streamline our online-to-office retail layout and reduce costs in sourcing and logistics," Tian said.

"China has shown demonstrable commitment and willingness in collaborating on COVID-19 related research, vaccine development, and medical equipment provision, encouraging openness and data sharing to help ensure diagnostics, vaccines and prevention measures are developed rapidly for the benefit of every nation," he said.

"China is willing to work with Portugal in developing closer trade ties and expanding cooperation in areas including energy, finance and infrastructure," said Gao.

"China is such a big market and represents a good opportunity to see if some of our products will do well there," he continued.