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However, Dobot Magician's main function is not writing characters, said Xiang Haibing, regional manager of Shenzhen Yuejiang Technology, the robotic arm's creator. "It can also be used in other fields such as 3D printing and laser engraving."

Hong Kong-based Dah Sing Bank is the latest to join the exodus in the third quarter of this year. It will take up a 7,060-square-meter space at the Sunlight Tower on Queen's Road East in Wan Chai for a rent of HK.42 million (0,000) per month.

However, Bloomberg reports that Chinese VC has plunged in 2019 as a result of trade uncertainties and high startup valuations.

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Hong Kong, with an average property price of .24 million, is the world's most expensive city for housing. Lu Ye / Xinhua

Hong Xiao contributed to this story.

However, he added, "The dual circulation aspect of this has to be borne in mind at all times. It would be counterproductive if China gave up on opening-up and solely focused instead on its domestic economy."

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Hosted by NEXT Federation, China Economic Information Service (CEIS) and other institutions, the NEXT Summit has been successfully held in Auckland in 2017 and Hangzhou in 2018.

However, Liu said China's foreign trade sector remained well-structured and highly competitive in its industrial chains and its businesses were highly innovative and capable of turning the crisis into opportunities.

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However, Asia is vulnerable to tightening of global financial conditions. Long-term growth prospects for Asia-Pacific are impacted by population aging, slowing productivity growth, and the rise of the digital economy.

Honor, an independent brand of Huawei Technologies Co, has unveiled its latest handset Honor 20S, as part of its broader push to target young consumers who love taking selfies.