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That, in turn, would inject new growth momentum into a global economy that has been floundering of late due to strong headwinds facing globalization. Higher growth worldwide as a result of China's efforts would eventually improve lives and deliver prosperity to vast multitudes, officials and business executives said.

That's a departure from how internet companies have traditionally viewed themselves — as neutral platforms generally not responsible for what people post and share on their services.

The 1,388-year-old Potala Palace in Lhasa, a UNESCO World Heritage Site, launched its first livestream in March, attracting nearly 1 million viewers for a one-hour show.

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The "Made in China 2025" strategy, a roadmap released by the State Council in 2015 to guide the country's advanced industrial manufacturing, has seen steady progress in industrial capability, smart manufacturing, innovation, as well as product quality and branding.

That's because the reserves might be required by relevant authorities to satisfy the fund's "known, contingent, and potential future liabilities," it said in a statement on Wednesday.

The "pressure" arises from a constant fear of being left behind as English-proficient peers appear to get ahead. Academic circles refer to this as "middle-class anxiety", which is gripping some sections of China's population.

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The billion capital increase package includes .5 billion of paid-in capital for the International Bank for Reconstruction and Development (IBRD), the group's primary lending arm, and .5 billion for the International Finance Corporation (IFC), the group's private sector lending arm, said the World Bank in a statement.

The "creation of a community of shared future between China and Latin America will favor mutual understanding, as well as greater cooperation and exchange between the media, sharing information through truthful, integral, objective and balanced coverage," the organizers said in a statement following the forum.

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That means the online business of matching individuals seeking for money with the lenders will face stricter regulatory standards, which ask for higher collateral after their transition into microcredit lenders, according to analysts.

The 19th CPC National Congress will be held in Beijing, starting Oct 18.