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"China is willing to share its development opportunities with all other countries," Wang said.

"By launching China's ore index, more accurate and precise price information can be provided for the operation of China's commodity market," said Yu Jianguo, general manager of Shanghai Ore International Trade Center, adding, "China will also increase its role in setting global prices and forming its own commodity price system."

"China has witnessed a significant surge in the number of pet cat owners," Peng said.

"But now, for many buyers, affordability is the only factor for decision-making. Some of those upgrading are dropping their plan simply because they can't afford to make higher down payment. Also, some buyers who wished to sell their first home and then buy a second one are hesitant because they are not sure if the family income will be stable and steady enough to cover the monthly installments related to a more spacious home," said Ma.

"China has achieved over 60 percent urbanization. The figure will reach 70 percent to 80 percent in the future, and the cities' size will only grow bigger and bigger, presenting challenges in their management and operation," he said.