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James Macdonald, head of Savills China Research, said the new plan's impact on the property market will not be felt soon as it takes time for its implementation. But the very idea behind the plan is to meet the market demand amid demographic changes.

Jamil Anderlini:The US has said they want to look at the idea of the Indo-Pacific, and they want to fund some investments there. Do you think this is something that can work with the BRI? Or is it a competitor for the BRI?

Japan has decided to purchase 17 Ospreys from the US for the 2,100-strong new brigade to transport the marines to any potential island battlefield. The delivery of the aircraft is expected to begin in fiscal year 2018, which starts on April 1.

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Jaguar Land Rover, which is seeking a turnaround in China, announced its move on the same day, with the prices of selected Range Rover models slashed by 85,000 yuan. Ford's premium arm Lincoln's announcement came on Sunday, cutting the prices of its models by up to 20,000 yuan.

Japanese cuisine is such a rage among Chinese consumers these days that some of them are willing to spend more than 1,000 yuan (9.70) for a lunch/dinner comprising super-fresh authentic ingredients, including six-piece sashimi, or raw fish, specially imported from Japan.

Jacobelli added that the future of Westinghouse, which was purchased by Brookfield Business Partners LP after filing for bankruptcy last year, may depend on its success in Sanmen, which might help trigger orders from other countries.

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Jameel Ahmad, vice-president of corporate development and market research at ForexTime, said he expected the yuan to appreciate in the second half the year.

Jiang Jianjun, mayor of Zhanjiang and a deputy to the 13th National People's Congress, said the city has a good geographical position and a vast market.

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Japanese Prime Minister Shinzo Abe (left) and Finance Minister Taro Aso attend an upper house budget committee session in Tokyo on Wednesday. [Photo/Agencies]

Japan relies on the Middle East for around 90 percent of its crude oil imports and is keen to ensure the safety of vessels through the Strait of Hormuz, which is a crucial oil export route.