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"Economic restructuring saw millions of Chinese move from villages to cities and from agriculture to more productive, wage-paying jobs in services and industry, mostly in the private sector," he added.

"Everybody in the US, including the White House, believes that America's huge trade deficits are caused by China," said Huang.

"Different from traditional infrastructure investment, new infrastructure projects are more attractive for private capital, including venture capital and private equity firms, to engage in. New infrastructure projects focus on emerging and high-tech sectors and evolve quickly in technologies, which is similar to the investment logic of private capital," Wu said.

"Efforts should also be taken to improve the mechanism to assess the caliber of cadres, which should meet the requirements of a modern SOE system with Chinese characteristics and the needs of market competition."

"Entering the industrial internet era, security threats have become more sudden in occurrence and destructive, especially in fields related to national interests and people's livelihoods. Once attacked, it will cause great social impact and huge economic losses," Dowson Tong, president of Tencent's cloud and smart industries group, said Tuesday during the ongoing fifth Cyber Security Summit in Beijing.