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"Fang's remark signaled more reforms which feature less administrative controls and intensified crackdown on illegal market behaviors," said Dong Dengxin, director of the Finance and Securities Institute at the Wuhan University of Science and Technology.

"Facing the complexity and uncertainties of the external economic environment in 2019, listed commercial banks continued to strengthen their ability to withstand risks and sustained an overall steady performance … This laid a solid foundation for coping with the extraordinary period in 2020," Yeung said.

"Even if my works change the mindset of only a couple of people, my efforts are worthwhile," he said.

"Expanding channels for small and medium-sized banks to replenish capital will further improve their risk resistance capacity and the ability to serve agro-related businesses and micro and small enterprises. This is important for safeguarding employment, people's livelihoods and the development of market entities," he said.

"European and Asian countries are more connected, especially through infrastructure, transport and energy linkages, and the AIIB can bring them together with trade agreements. We have been talking a lot about how to connect Europe with Asia and how to collaborate between European and Asian countries," said the vice-president.