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"China has during this period become a major engine for world economic recovery and growth, contributing nearly 30 percent on average per year to global economic growth," Wang said.

"China has worked on similar regulations in the past, but the key is in the fine details and the severity of the punishment," he said. "Defining the rules and operational mechanisms for the ethics review board is also a very important and specific task."

"China is a big importer of Michigan dairy products. This uncertainty hurts markets. All I know is that we have to get this resolved, the sooner the better for everybody, for the US and for China. We can help each other, work together and improve life for people in this country and people in China," he said.

"China has always fulfilled its obligations, kept its promises and made significant contributions to the world economy by paying great efforts and costs since it joined the WTO 17 years ago," Foreign Ministry spokesperson Hua Chunying told a routine press briefing.

"China is now a fascinating place for foreign investors. I've seen China become much more open toward foreign direct investment," said Khaldoon Khalifa Al Mubarak, group CEO and managing director of the Mubadala Investment Company.