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"Demand from the cargo freight market has also dropped, but the declining volume is much less than commercial flights. Now, most airlines are carrying out belly-hold operations to transport medical supplies, and it will help to lift revenues. But the limited number of flights and freight volumes won't help much with profit-making," Lin said.

"Defining the newly included area as a special economic zone will encourage more emerging industry companies to settle down in Lingang and help Shanghai to achieve more results in strategically important industries, which is in line with the country's development trajectory," he said.

"Electricity demand, resulting from the country's energy transition from coal to electricity for winter heating, came in at 150 billion kilowatt hours last year, accounting for 25 percent of the power use growth," Yu said.

"Downside risks have become more acute and include the possibility of disorderly financial market movements and an escalation of trade disputes," the report said, warning that intensifying trade tensions could result in weaker global growth and disrupt globally interconnected value chains.

"Doubling down on innovation can invigorate the whole game," said Anhui Party Secretary Li Jinbin. "We will roll out more measures to encourage original work, so as to take the initiative in technological competition."