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The company will expand its operations to several key cities and regions before this year-end as China is projected to emerge as the largest source of tourists for Airbnb by 2020.

The company that once dominated toy sales in the United States has been operating under bankruptcy protection since last fall, when it filed for Chapter 11 under the weight of billion in debt. Toys R Us operates about 900 stores in the US, including Babies R Us stores.

The company's global smartphone sales have risen sharply this year. According to market research company Gartner, Xiaomi sold 28.5 million handsets in the first quarter of this year, compared to 12.7 million during the same period in 2017. This amounted to the highest level of sales growth among the top five smartphone manufacturers during the period.

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The company, which is listed on the Shenzhen Stock Exchange, established an international design and research and development center in Los Angeles last year.

The company is moving the decision-making authority from its corporate headquarters to China to meet the local market's specific needs.

The company previously rolled out about 1 million green bikes across more than 50 cities on the Chinese mainland.

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The company promised to replace the defective rear-view mirrors free of charge.

The company will complete mixed ownership reform by the end of this year, according to an earlier report. At that time, the wholly State-owned machinery giant will be transformed into a diversified firm that is dominated by State-owned capital and engaged with private investment, the report said.

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The company said in its first-quarter financial report on Wednesday that its revenue in the three months was 5 million, up 35 percent year-on-year and marking a record high.

The company, Ocean Infinity, said earlier this week that it was "hopeful of receiving the final contract award for the resumption of the search for MH370 over the coming days".