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The upcoming China International Fair for Trade in Service in September will bring new opportunity to China and the world economy amid the COVID-19 epidemic, as well as exploring new paths to the upgrading and development of the service trade, Beijing Daily reported on Wednesday.

The upcoming regulation is aimed at limiting the leverage level and complexity of risky investment vehicles, valued at almost 75 trillion yuan by last year, according to the International Monetary Fund, and gradually restricting banks' ability to implicitly guarantee fixed-yield returns that are usually higher than standard deposit products.

The value of outstanding non-performing loans (NPL) stood at 2.3 trillion yuan (7 billion) by the end of May, said Liu.

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The vigorous development of the enterprises was supported by China's strong economy, huge market and improving business environment, the report said citing President Xi Jinping's call to improve Chinese companies' international competitiveness and ability to resist risks.

The underperforming economy had lost its magic to satisfy the overall demand of the whole spectrum of its people, from the elite to the grassroots, and the economic increment is merely enough to keep the government running with tightened purse strings.

The visit will reinforce mutual understanding at a time tensions on the Korean Peninsula are being eased, and it will be conducive to denuclearizing the peninsula, Zhang said.

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The vote count at the national level will take place on Nov 1, and the publication of national results will take place on Nov 4-9.

The upcoming session, which will start in Beijing on Oct. 18, will see a higher percentage of grassroots delegates working on the frontline. The meeting will discuss and set the future direction for the Party and state, as well as elect a new central leadership.

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The views don't necessarily represent those of China Daily.

The voice-recognition system will help record and grade learners' pronunciation and intonation while facial recognition technology will discern students' attentiveness.