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As the second largest toy market in the world, China has 236 million kids ranging from zero to 14 years old, and 76 percent of the Chinese urban population is expected to become middle class by 2022 with higher disposable income and expense, McConnell said.

As the pandemic dealt a double blow on economic and financial fronts, the international community has largely reached a consensus: The global economy is heading for a recession this year, the degree of which may be as deep as the 2008-09 financial crisis, if not worse.

As the NDB has received AA+ ratings from international credit ratings agencies, it enables the bank to mobilize financing from global and domestic capital markets at competitive rates, he added.

As the country reforms its public hospital system, many public hospitals－especially at the grassroots level－have been sold to private investors. But the country must further improve the operation of key public hospitals, increase fiscal inputs and devise appropriate policies to help them improve their efficiency and prevent brain drain, because they cannot merely satisfy daily public demand for high-quality health services, but must also play an indispensable role in combating the spread of epidemics.

As the joint statement noted, the two sides agreed to continue to engage at high levels on their economic and trade issues and to seek to resolve them in a proactive manner.