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The remarks came in an annual report of the LegCo Commission, reported by several local media on Thursday.

The report said the increase in operational cost and decline in the sales premium rate led to the shrinkage of profitability. The net profit rate of the top 100 real estate companies saw a year-on-year decline of 0.5 percent in 2019, while the average return on equity dropped by 0.8 percent, as influenced by the regulations, rising costs and decreasing turnover velocity, it showed.

The reopening of parks and squares is part of an array of measures, including the opening of street shops and shopping malls for a limited time per day, as well as bars and restaurants, which are now authorized to operate until 5:00 pm local time.

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The regulation of "shadow banking" business will be strengthened through greater supervision and wider coverage of regulation, while irregular financial activities such as illegal fundraising will be combated, media reports said.

The report also showed 1.67 billion people used digital publications in 2016, 566 million of whom were online game players.

The report comes as China has seen a rapid expansion of the market targeting seniors over the past few years, as well as more fraud aimed at wealthy elders.

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The report evaluated new energy automakers worldwide, based on Chinese language news, social media feedback, online complaints, production quality, services, innovation and assets over the time spanning May 1, 2019, to April 30, 2020.

The region will continue to promote a series of policies and measures, including poverty alleviation through industries, employment transfer and relocation of people from inhospitable areas, to ensure the employment and stable income of the impoverished group, it said.

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The relatively young government of Brazilian President Jair Bolsonaro is coping with the situation by using troops and firefighting assistance from some nations, though initially balking at a G7 offer of financial aid.

The report said Kim guided the test-firing at the observation post "early in the Friday morning," without mentioning the site where the test-firing took place.