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Li made the remarks in an instruction on a national spring agricultural production work conference, which was held in Xiangyang city, Hubei Province, Saturday.

Like many other villagers, Ma sold his two donkeys and bought three cows. "Profits from beef have been high in the past two years, and our life is getting better and better," Ma said.

Liang Yiming, a second-year student at the law school, said the system makes her feel safer because it prevents third parties from using a student's ID card to enter the school.

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Li, who is confident in the future of Koboro, said the profits can be in the tens of millions or even several billion in the future, as internet healthcare can generate profits from various channels, such as health management services and healthcare products.

Lifan, a major motorbike manufacturer in China, saw its price drop by 9.93 percent to 5.35 yuan a share.

Lim Yoke Loon, Greater China president, The Dow Chemical Company [Photo provided to China Daily]

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Li said Dow Chemical Co's merger with DuPont Co and Bayer AG's purchase of Monsanto Co, which occurred in the past two years, would mean that ChemChina would face strong competitors, as the top six international suppliers, including Syngenta and BASF SE, have all been vying for market share and financial resources to push the research and development of new products.

Li said the bank's experience showed difficulties for small businesses to get financed can be overcome. Small businesses are the leading force in supporting employment, and the market can boom when these businesses are prospering, he said.

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Li said it should also be noted that China's exports to the US declined in the first three months, partly due to the impact of the novel coronavirus outbreak and the extension of the Spring Festival holiday this year.

Lian Ping, chief economist at the bank, said the central bank will leave benchmark interest rates on hold, but will appropriately manage liquidity.