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"Following the COVID-19 outbreak, financial conditions tightened at unprecedented speed, exposing some 'cracks' in global financial markets," the IMF said in its newly-released Global Financial Stability Report, noting market volatility spiked, borrowing costs surged and signs of strain emerged in major funding markets.

"For beer fans, it's not only an opportunity to try some of these amazing beers in China but also to show support for this creative collaboration between Chinese and Western brewers."

"Globally, China is second in the world in the number of unicorns - companies valued at billion or more. And the government has started to strategically invest in innovation in key areas, including self-driving vehicles, artificial intelligence and drones," said Shapiro.

"For Mercedes overall, China is a very important market,'' Dietmar Exler, Mercedes-Benz CEO USA, told China Daily. "We always take our Chinese as well as our American and European customers into account when we design new vehicles.''

"Foreign models no longer enjoy an absolute advantage over their Chinese counterparts. The line between foreign and domestic models is not so obvious anymore," said Zheng Yi, president of Esee Model Management in Shanghai, one of the largest modeling agencies in China.