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The commission wants to create courses to better tap the students' potential to supplement the dwindling workforce, said Diao, who is also vice-chairman of the China Association of Universities for the Aged. "Such courses include knitting, cooking and even psychological consultation."

The company has already made a good beginning in this regard by bringing nearly 90 percent of its subsidiaries in the reform push by the end of 2017. It involved 660 group companies and accounted for over 85 percent of the group's revenue contributors.

The company has constructed 10 cross-border power transmission lines, including the China-Russia and the China-Kyrgyzstan lines. It is working on the Shivee-Ovoo, Mongolia to Hebei province project and others to strengthen power interconnection between China and neighboring countries.

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The comments came after Liu He, a member of the Political Bureau of the Communist Party of China Central Committee, said in Davos in January that the country would take concrete measures to further open up.

The companies said operating expenses put them under huge pressure. This type of pressure mainly came from employee salary and benefits (62.78 percent), loan repayment (13.98 percent) and rent payment (13.68 percent).

The company also is leveraging cutting-edge technologies to explore digital R&D, with plans for long-term cooperation on big data AI solutions with Peking University's School of Public Health Department of Biostatistics and Beijing International Center for Mathematical Research.

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The company has opened a few brick-and-mortar stores in the region, and plans to open more such stores at some malls and sightseeing spots nationwide. In addition, it operates an online store on Taobao, an online marketplace owned by Alibaba.

The company has not been performing well recently. Its Q2 net income totaled 122.3 billion yuan (.5 billion), up 31.2 percent, while its net profit was down 51.04 percent to 478 million yuan based on non-GAAP accounting, according to the company's Q2 fiscal report released on Aug 16.

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The company has rolled out a string of measures to help online merchants alleviate pressure caused by the tough situation resulting from the pandemic. It will empower 1 million merchants on the platforms to upgrade their digital solutions, with commission fees to remain 3 percent to 5 percent lower than the industry average.

The club has accelerated steps to expand its presence in China, and a key part of its China strategy is the development of youth soccer. Across China, FC Barcelona coaches have trained more than 15,000 children in academies, camps and programs to date. Moreover, in 2018, the club opened the Barca Experience Haikou, the first ever museum outside of Spain.