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Through initiatives such as a planned forum for countries to share experiences on banking and market regulation, CAREC 2030 can also help improve the region's investment climate, sustain economic growth, and manage the impact of cyclical economic downturns.

Tianjin in North China witnessed a significant slowdown, seeing just 3.4 percent year-on-year growth in the first half.

Thousands of jobs in businesses that have supplied components and accessories to Australian auto manufacturers are also at risk.

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Though the foundation of haute couture business in China varies, with polarized quality and talent levels, the future is optimistic, she said.

Through its experience and economies of scale, 51Parcel can also cut logistics costs, so that Chinese consumers can receive products priced more competitively than those offered by daigou.

Tianjin is boosting the use of artificial intelligence and slashing the cost of doing business amid efforts to transform itself from a heavy industrial center into an entrepreneurial city, senior municipal officials said on Wednesday.

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Through the years, Gree has been laying groundwork for the introduction of its commercial products as well, building up sales and service networks and establishing training centers across the US, according to Ouyang.

Tian Kun, associate research fellow of the Chinese Academy of Social Sciences, said, "more and more corrupt officials choose to confess their crimes, mainly because they are moved by the policy of 'combining punishment with leniency' to seek a lenient punishment."

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Though its growth rate is likely to slow over the next few years, the Chinese pharmaceutical market will still be among the fastest growing markets worldwide, underpinned by domestic regulatory reforms supporting the faster roll-out of innovative drugs and continued expansion of healthcare coverage, according to the report.

Though the benchmark indexes in Shanghai and Shenzhen had fallen sharply on Monday after US President Donald Trump threatened to increase tariffs on Chinese imports, sentiment improved on reports of further supportive policies and better economic indicators for April.