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The Caixin General Services Purchasing Managers' Index (PMI) fell to 51.6 from May's four-month high of 52.8, according to a survey conducted by financial information service provider Markit and sponsored by Caixin Media Co Ltd.

The Chinese government's reduction in value-added tax has benefited the manufacturing, construction, and transportation sectors, which in turn can help underpin the construction machinery industry, Qi said.

The China Securities Regulatory Commission (CSRC) vetoed IPO applications from 24 companies from the start of this year to May 19, up from 18 in the January-April period, according to a CSRC statement.

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The Chinese leadership has made controlling financial risks a top priority and encouraged regulators to crack down on risk-increasing practices, he said, citing the sharp decline of interbank market lending, particularly to non-bank financial institutions.

The Chinese aid program to Sudan, known as "Brightness Action 2018," was co-launched by Khartoum State's Health Ministry and the Economic and Commercial Counselor's Office of the Chinese Embassy in Sudan.

The Chinese government will also continue to cut red tape, delegate power and improve its services to business and create a market environment that guarantees fair competition and equal treatment for Chinese and foreign enterprises, he said.

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The CSRC will also step up inspections and punishments of listed firms' activities, including information disclosure, refinancing and mergers and acquisitions, said Pan Xiangdong, chief economist at New Times Securities.

The China-Europe rail service is considered a significant part of the B&R Initiative. It is expected to boost trade between China and Europe, China's largest trading partner.

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The Chinese government is handling the situation well, and has everything under control, while there are economic issues, such as potentially in the real estate sector and in the urban-rural dynamic where new balances must be struck, said Walter Koren, the head of the international department of the powerful Austrian Economic Chambers.

The Chinese embassy in Ottawa responded by saying that Canada is an "accomplice to United States efforts to bring down Huawei and Chinese high-tech companies".