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"China has been the most trusted partner in providing very solid infrastructure investment in this country. The support we've been receiving isn't only in infrastructure and trade but also on human development," said Admasu Nebebe, Deputy Minister of the Ethiopia Ministry of Finance and Economic Cooperation.

"But my partner felt it was too expensive, and so now I am here reworking my options and looking for something cheaper."

"California maintains a close economic and trade tie and people-to-people exchange with China," Zhang Ping, Chinese Consul General in Los Angeles, said in his keynote speech to the Belt and Road Forum hosted by the Hong Kong Association of Southern California.

"China has been rolling out policies for capital market reforms since October, aiming to facilitate the move of funds from parties with excess capital to parties needing funds－the core function of securities firms," said Ma Kunpeng, an industry analyst with mainland-listed SWS Securities.

"China and the US are probably neck and neck right now in terms of research and innovation in the area of artificial intelligence," she said.