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"Currently, people aren't highly alert to the problem that individual and household loans for home purchases and investment have been growing at a rapid rate. It's very dangerous," Guo said on the sidelines of this year's session of the National People's Congress in Beijing.

"Consumption downgrade is more relative as it is just about a certain period of time or a certain group of people," said Wang.

"China's demand for IDCs will see a rapid rise as the country expedites the use of 5G and internet of things technologies. We expect the market volume of China's IDC industry to grow around 30 percent year-on-year from 2019 to 2020, hitting 200 billion yuan (.5 billion) in 2020," Wang said.

"China will work with Kenya to realize the promise of the Belt and Road Initiative as well as the promise of the Forum for China Africa Cooperation. China will always see African states as development partners no matter how the international landscape may be shaped," he added.

"China represents a significant opportunity in the aviation industry, as it is developing rapidly and the demand for aviation services is increasing," he said.