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"Caterpillar was also developing new financial solutions for customers operating in emerging markets", Istas added.

"China is our number one trading partner. China has made huge investment in the country in the past 20 years. They have helped our government to improve our infrastructure and change the lives of our people. Chinese relations are helping us to address the triple challenges of poverty, unemployment and inequality. This relationship is based on mutual respect and win-win," Genge said.

"But the 0 billion valuation is undoubtedly too high even by the standards of Chinese companies' high price-to-earnings ratio. Xiaomi's market performance can by no means support that," Shen said. "Something between to 0 billion is more likely."

"China has committed significant reform to its pharmaceutical regulatory review and approval process, protections of intellectual property and timely, predictable and transparent government reimbursement for innovative medicines, and I look forward to discussing ways the global biopharmaceutical industry can work collaboratively to help China realize these historic goals," he said.

"China has made positive progress in strengthening its financial regulatory system and resolving financial risks since the Party's 19th National Congress in October under the leadership of the CPC Central Committee, with Xi Jinping, general secretary of the committee, at the core," he told a special consultative meeting of the Chinese People's Political Consultative Conference, the country's top political advisory body.