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Zheng Chunyang, president of the Robustnique Co, which is committed to developing recombinant enzymes and high-end cosmetics, said currently new ingredients for cosmetics production in China must comply with the Inventory of Existing Cosmetic Ingredients. The limited number of ingredients on the Inventory and the difficulty of getting a new ingredient approved have caused troubles within the industry, hindering innovation among Chinese cosmetic producers.

Zhao recalled that the old procedure required seven knives, but only six working seats were available on the lathe. As a result, a worker had to repeat the operation twice to make a new product.

Zhenge Biotech also signed the agreement on Friday. The company's CEO Chen Jianxin said that the development of biomedicine industry is highly reliant on the free flow of talents and technology, which will be facilitated by the systematic innovation and free trade in Lingang.

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Zhou Hongyi, chairman and CEO of 360 Security Technology Inc, said the winner-takes-all model is not viable in the cybersecurity sector.

Zhao Bingqing, a 27-year-old university teacher, has spent a period of time at a military compound in the northwestern outskirts of Beijing.

Zhou Xiaochuan, governor of the People's Bank of China, China's central bank, said further opening up helps to build a strong and competitive financial sector in China.

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Zhang said a product which sold for 700 yuan () before the epidemic has now surged to 1,800 yuan.

Zhang said that virtual reality, augmented reality, as well as cloud gaming, computer and smartphones, may be the tech segments that have the highest possibility of strong market performance, given their shorter timeline to realize higher margins.

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Zhongshan alone has registered more than 140 optoelectronic companies that are playing a big part in the city's economic construction, Hou said.

Zhao Fei, head of the commission, said Jinghai is an area with rampant pyramid scheme activity and that the activities must be eliminated within 20 days.