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"Forty years ago, the China-US diplomatic relationship, along with China's reform and opening-up, almost started in the same period," wrote the ambassador.

"Financial institutions, especially some commercial banks, became hesitant or overreacted to the tightened regulations, thus they suspended part of their financing activities and stopped large-scale investment in nonstandard credit assets already－one of the reasons that led to the current liquidity pressure," said Wei Xing, an expert in asset management products with a domestic securities company.

"Given recurring financial fraud, it is vital for the public to learn financial knowledge and enhance risk awareness," said Liu Jianjun, vice-president of the bank. "Within the program, we plan to spread financial knowledge through a number of channels, ranging from online short video and offline micro courses to printed finance books."

"Haikou will invite well-known professional service firms involved in accounting, law, management consulting and training to serve the development of its local headquarters economy," said the vice-mayor at the news conference.

"For years, Alibaba has been consistently strengthening its collaboration between its logistics arm, Cainiao Smart Logistics Network, and major express delivery firms," said Kuang Peiqin, an industrial analyst with Zheshang Securities.