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As of June 30, the SOE's debt-to-asset ratio was 66.72 percent, with a decrease of 0.55 percentage point from the end of 2017. Its net cash inflow reached 6.74 billion yuan, a record high in the past five years and an increase of 1.38 billion yuan year-on-year.

As in many other parts of the world, schools and colleges are closed, exams have been suspended, courts and most offices and factories are shut, and nearly all forms of transportation have been halted.

As many as 80 percent of its customers come from second-tier and third-tier cities, and they are becoming more independently minded, Wilmet says, knowing which products best suit them rather than simply following the crowd.

As of Wednesday, 1,432 Chinese listed companies had disclosed their preliminaryfirst-quarter reports, and 66 percent of them registered a net profit growth or turned losses into gains, according to data compiled by Wind, a leading information service provider.

As more and more European countries show interest in Chinese investment and the Belt and Road Initiative, old-fashioned mentalities and bias put the whole continent's prosperity at risk. A more confident, open-minded attitude by the EU towards China surely benefits all. And that's probably the "greater wisdom" for which Li had asked.