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"China is wise to continue its opening up ... And the world has benefited greatly from China's opening up," he said.

"But make no mistake, sir, while these factors do exert a negative force on the challenges we face, at the core, this issue is about leadership, especially command," Richardson said.

"China Earthquake Catastrophe Model v2.0" is an important achievement made by the government, academia and enterprises through their concerted innovation . In order to better develop this model, China Re initiated China's first fin-tech company of catastrophe risk control – China Re Catastrophe Risk Management Company, and brought in a professional model development team with overseas working experience. China Re has integrated valuable scientific research and data resources with the support of professional research institutes including the Institute of Geophysics and the Institute of Engineering Mechanics of China Earthquake Administration. China Re applied for the State Key Research Project, “Earthquake Insurance Loss Assessment Model and Applications”, and received special fund from the Ministry of Science and Technology of China. The above-mentioned work ensured that the model development was completed within two years. Currently, the model has been recognized by the Seismological Society of China as a first-class international model. The model platform has also been tested and certified by authoritative software evaluation agencies, with complete technological verification certificates, user documents, technological documents, and training and operational service systems. The model is thus fully-qualified and ready for commercial use.

"China has entered a phase of increasing expansion in consumption and imports," said Sean Chiao, president of AECOM Asia-Pacific.

"But some bad and pornographic information that is trying to harm the industry can still be found among online literature," the statement said. "Meanwhile, a few internet enterprises that lack reviews or even take the initiative to spread harmful content also damage the industry's environment and readers' interests."