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Teo said the Philippine tourism industry continued its growth trend in February breaking yet another record as shown by the latest data on international tourist arrivals.

Tesla has just announced plans to open its first overseas plant in Shanghai, with a planned annual capacity of 500,000 electric cars.

That lines up with comments that Hointer CEO and former Amazon exec Nadia Shouraboura made earlier this year at the GeekWire Summit, saying that retail isn’t going anywhere just yet.

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Tesla said on Wednesday it had trimmed its capital expenditure target for 2019 to .5 billion to billion, from billion to .5 billion. It ended the quarter with billion in cash and cash equivalents.

Tencent said in a statement that it had to shut down the tipping service function to comply with new rules issued by Apple, which banned developers from including buttons or links that direct customers to purchasing systems outside of its iOS ecosystem.

Tencent said such regulations are not new, nor are they unique to China. "As technology companies become bigger and contribute more to the economy, more regulations will reflect the new realities needed. It's not just the case for China, it's also the case globally," it said.

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Temperatures dropped dramatically across large parts of China on Friday. Many cities in the north are seeing temperatures below freezing for the first time this year.

Thanks to rigorous regulation, the quality of the country's banking assets is generally stable and banks' ability to resist risks is strengthening.

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Technology, telecommunications and electronics players are reshoring their supply chains and automobile manufacturers are resorting to nearshoring operations, said Helen Xiao, senior manager for international tax and transaction services with EY.

That could also pose a challenge because many firms are lining up for listing in China. However, Yan is optimistic. "Success will come when the time is ripe. We've a good team, so neither us nor our investors are going to worry because of that."