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Sharon Lee, Executive Director of the Low Income Housing Institute.( LIHI Photo / Ron Wurzer)

She also cautioned that Chinese steel companies should carefully study local policies, especially environmental policies, before making the investment.

She added that the foundation is working with partners from the public and private sectors to accelerate the entry of low-cost, effective, Chinese-made malaria commodities into African countries.

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Shares of iHuman Inc, a leading Chinese online childhood edutainment provider, jumped more than 30 percent on the Wall Street debut Friday, joining the latest in a flurry of IPOs that investors cannot ignore.

Several other Chinese carmakers including Geely, Great Wall Motor and Chery have launched their high-end brands, as well, taking volume international brands head-on.

Shanghai's three signature industries－integrated circuits, biomedicine and artificial intelligence－should see more progress in the next five years to facilitate the integrated development of advanced manufacturing and modern service industries, the proposal says.

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Several ministry-level departments, including those responsible for industry and information technology, public security, and market regulation, have responded recently to issues of public concern.

Shanghai has ranked as the "most attractive" city for foreign residents for the fifth consecutive year due to its international atmosphere and multicultural environment, according to an annual survey.

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Seventeen of the 40 surveyed industries saw price hikes month-on-month, while 18 reported price drops and five witnessed unchanged prices.

Shanxi Lu'an Environmental Energy Development said in its report that the company's net profit is expected to surge 210 to 245 percent year-on-year in 2017.