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Another key development will be to build advanced steel making factories overseas although the company has yet to reveal the global locations or time frames for the projects.

Another potential push for the renminbi is China's domestic consumption. Domestic consumption contributed 64.1 percent to GDP growth by the end of the first quarter of this year. The figure is expected to be higher in the years to come, making China a major final destination in trade relations with other countries－a fundamental support for trade invoicing of the currency.

Any attempts to separate Taiwan from China and provoke confrontation on both sides of the Taiwan Straits are doomed to fail, a mainland spokesman said. The Democratic Progressive Party (DPP) authorities are going against the common wish of compatriots across the Straits for peace, cooperation and development, An Fengshan, a spokesman for the Taiwan Affairs Office of the State Council, said Wednesday."Out of their own interest, the DPP have intensified efforts to hinder exchanges and cooperation across the Straits and attempted to set up obstacles for compatriots on both sides to get closer and better develop cross-Straits relations," he said.An's remarks spoke to a recent series of law revisions by local legislative authorities involving cross-Straits relations. They include tightening the limit for retired Taiwan personnel who have access to confidential information or work to go to the Chinese mainland."Any attempts by 'Taiwan independence' separatists to set apart compatriots on both sides are doomed to fail. Compatriots on both sides should work together to eliminate the interference and firmly push cross-Straits relations forward to create a better future for the Chinese nation," An said.

Another report of property consultancy firm CBRE in September showed office submarkets contributed 54 percent to overall net absorption in Beijing from 2016 to 2018 annually on average. The figure was 31 percent from 2013 to 2015.

Apart from China's strategy of developing the west, the Belt and Road Initiative is also bringing new opportunities to China's west, making it a new engine for the country's economic growth.