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As wages have experienced rapid growth in China over the past decade and are growing faster than labor productivity, it is expected that the growth rate of household income will slow down during 2021-25 and lead to a decline in the household savings rate. The uncertainty caused by the ongoing COVID-19 pandemic will have a smoothing effect on consumption and reduce the savings rate during the early stage of the 14th Five-Year Plan period.

As the host of the expo, Guangxi has become a portal for China to expand trade and commercial relations with ASEAN countries, said Wang Lei, director of Guangxi International Expo Affairs Bureau.

As the initiator of the online shopping gala, sales of Alibaba's online e-commerce platforms surpassed 200 billion yuan (.76 billion) for the first time this year, while its Nov 11 full-day sales reached 213.5 billion yuan, up 27 percent year-on-year.

As the central bank has taken a pause in monetary easing, fiscal policy should remain proactive to stabilize economic growth and ensure the recent rebound is not just a seasonal fluke, said economists.

As temperatures spiked for the third time in September, Rio de Janeiro recorded the hottest day of the year, with the thermometer reading 39.2 degrees, sending throngs to the beaches of Copacabana, Ipanema and Leblon.