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Government priorities will shift from foreign investment approval to regulation and supervision in a bid to create a better environment for foreign investors, said the statement.

Guan Yiting, an analyst at Canalys, said despite the success of Xiaomi's consumer IoT devices, smartphones are still the core of the company's business.

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Government figures showed that by the end of 2017, China had 241 million people over 60 years old, accounting for 17.3 percent of the total population. And the number is expected to account for one third of the overall population by 2050.

Google also has been rumored as a possible suitor, but it too has largely shied away from content acquisitions (especially one that would likely carry a price tag as high as Hulu’s).

Green Monday Group, a Hong Kong-based plant-based meat company, opened its first restaurant in Chinese mainland in Shanghai on Wednesday.

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Great Wall Motor, China's largest SUV producer, inked a deal with BMW earlier this year to localize electric Mini-branded cars.

Great Wall Motors and GAC Group have lowered their sales targets, and many other companies including subsidiaries of China's largest carmaker SAIC Motor are cutting salaries of their employees because of lackluster sales.

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Gu Liyan, a researcher with the Xinjiang Academy of Social Sciences, said the US uses human rights issues to erode public trust in governments of other countries and create social conflict and unrest there to maintain its global power.

Google and Amazon followed through on their peace pact this morning.