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"For the winter sports industry it has been an important year as this year's expo is being held as part of the ongoing China International Fair for Trade in Services. We see this as a great opportunity to spread awareness about our industry and promote new products to more people. China has really made this huge opportunity possible despite the COVID-19 challenges," said Wilhelm, head of project management and engineering at Sanhe Doppelmayr Transport Systems Co Ltd, a subsidiary of Doppelmayr Garaventa Group, a global company engaged in ropeway research, development, and manufacturing.

"For us, it was crucial because we had the opportunity to have personal protective equipment and medical equipment that was indispensable ... While the rest of the world attended to their own domestic problems, immediate support from China was very important," she added.

"Guarding against imported cases and a potential rebound in indigenous cases is still the main task in coming weeks, and relevant departments will further enhance epidemic analysis and introduce more effective and accurate intervention measures," he said.

"GIFT IFSC provides a huge competitive advantage in terms of tax structure and supportive regulatory framework, which is comparable with other global financial centers," he said, adding that other advantages include the waiver of taxes such as the security transaction, commodity transaction, dividend distribution and capital gains taxes, as well as the goods and services tax.

"Foreign investors will now be able to compete on the same terms as China's domestic companies," he said, adding that a number of key sectors have gone through significant liberalization for foreign direct investment, such as automobile, finance and insurance.