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Mei Xinyu, a researcher at the Ministry of Commerce's International Trade and Economic Cooperation Institute, said the renminbi is unlikely to depreciate sharply because its value is supported by the stable fundamentals of the Chinese economy and its longtime trade surplus, which is likely to continue to increase.

Mercedes-Benz followed closely behind BMW in China, the largest market for both of them, in September sales.

Meilishuo merged with rival Mogujie in 2016 to form a company with billion in sales, and was said to have been valued at billion at the time of that deal.

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Meanwhile, the companies' debt-asset ratio dropped 0.7 percentage points to 56.2 percent.

Meeting the moderate goal of being a major trade player by 2020 would demonstrate that China is sufficiently strong in many elements of global trading, but there is still some way to go for China to grow into a truly global trading powerhouse. Problems and challenges it may still face include things like labor costs, environmental issues, lack of core technology and trade protectionism, said Ma Yu, a senior researcher at the Chinese Academy of International Trade and Economic Cooperation.

Measures such as cost cuts and enterprise environment optimization should be taken to boost enterprises' expectations in order to beef up real economy development, Cao said.

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Meituan Dianping has set a price of HK per share for its scheduled Hong Kong initial public offering on Sept 20. [Photo/VCG]

Meanwhile, thousands of US protesters still marched in cities across the country for a ninth straight night on Wednesday, chanting against racism and police brutality. With a key demand met, demonstrators nevertheless staged large and mainly peaceful rallies calling for deeper change in cities from New York to Los Angeles.

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Melissa Hathaway, an expert in cyberspace policy and cybersecurity, said: "Executive orders could be superseded by another executive order that changes or softens the policy. The thing that's important to watch is which of the agencies are given the authority to take action."

Meanwhile, the labor market recovery is expected to expand into contact-based service segments next year, which will also boost consumption, according to Xing.