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However, outstanding loans grew by 50.4 billion yuan (.88 billion) to reach 979.9 billion yuan last year.

However, in some lower-tier-cities, such as Qingyuan in Guangdong province, and Nanchang in Jiangxi province, premium reached up to more than 100 percent, showing that demand was much greater than supply, and developers sought land parcels after purchase limits against speculative buying were tightened in major cities.

However, the disruption came during what had been billed as a landmark year for defining and expanding the relationship between China and Europe.

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Hu took over the factory in 2006 after being a worker there for three years. According to the director, the first few years of his administration saw a plunge in the match business nationwide. In 2008, the production volume of Hangzhou Match Factory shrunk to 250,000 boxes due to the global economic crisis and the number got smaller and smaller.

However, some companies and universities have said there are no effective channels through which to educate others on their measures to tackle pollution, she said.

Hua Changchun, global chief economist at Guotai Jun'an Securities Research Institute, said China is rebounding to growth after a steep slump from the pandemic, adding that China's GDP growth may reach 6.3 percent in the third quarter and 7 percent in the fourth quarter.

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However, the importance of trade between the United States and China extends well beyond agriculture, he said.

However, these devices also pose safety concerns to their users. According to the Ministry of Emergency Management, more than 10,000 fires were caused by electric bikes nationwide from 2013 to 2017. These incidents led to 233 deaths, hence making the improvement of safety standards a top priority.

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However, the CFLP predicted that the weakening of the domestic bulk commodity market will be limited as the economy remains on the path to recovery and pro-growth policies will drive up demand.

However, physical goods sold online accounted for only 13.2 percent of total retail sales in the same period, according to the National Bureau of Statistics.