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As the initiative looks to promote coordinated economic development in the Greater Bay Area by capitalizing on the complementary advantages of the three places, Macao will sharpen its edge as a world-class tourism and recreational center, as well as facilitator of economic and trade exchanges between China and Portuguese-speaking countries, said Chui Sai-on, chief executive of the Macao SAR.

As the world's largest 5G and smartphone market, China has already made constant progress in telecommunication and electronics industries. A string of US tech firms, including Qualcomm and Apple, heavily rely on the China market for revenue and supply chains.

As the US government has started to actively contain the novel coronavirus pandemic and roll out major economic stimulus, the US stock market is expected to recover, which will help stabilize global financial situation, Liu said.

As the cold air moves towards the east, snow and sleet will engulf the eastern part of Northwest China, central and eastern parts of Inner Mongolia autonomous region, and the northern part of North China and Northeast China from Wednesday to Saturday, it added.

As the world's top automation technology provider, ABB has advanced from investing in China to taking root in China while serving globally, Chen noted, adding that ABB had more than 280 projects related to the Belt and Road Initiative in the past year, benefiting the company a lot.