The project marked ADB's first commercial non-sovereign assistance to an agricultural project in China.
The problem is more than just market saturation. Technological limitations have made it increasingly difficult for smartphone makers to come up with a blockbuster product that can wow the market. Samsung has conceded that sales of its latest top-of-the-line device have been slower than expected.
The problem was not limited to people, but also what they grew. Farm produce had to be carried down by the villagers themselves or by donkey cart. Retailers were unwilling to bear the extra cost of transport.
The prize was launched last year by the Basque Culinary Center and the Basque government in northern Spain.
The premier made the statement when inspecting the Ministry of Finance and the State Taxation Administration on Thursday, along with Vice-Premier Han Zheng, who oversees the two departments.
The premier voiced appreciation for Goertek's efforts to prioritize research and innovation and to explore the domestic and international markets.
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The project is expected to start operations by the end of 2022.
The project, upon completion, will have an annual design capacity of 3.9 billion standard cubic feet (100 billion cubic meter) per day peak capacity of natural gas.
The program is separate from the system for checking out Kindle books from public libraries.
The project will create hundreds of new jobs and play a key role in further strengthening and protecting TikTok user data, Roland Cloutier, global chief information security officer of TikTok, said in a statement.