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The leadership transition is unrelated to the company's operational or financial performance, the company said in a news release.

The leadership of north China's Hebei province on Tuesday vowed to strongly control property development in Xiongan New Area, a new economic zone spanning three counties in Hebei, People's Daily reported.

The manufacturing Caixin/Markit PMI, released on Monday, slid to a five-month low of 49.4 in June, down from 50.2 in May and below the 50-mark that divides expansion from contraction.

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The lottery raised more than 62 billion yuan for public welfare funds last year, according to a statement by the welfare lottery distribution and management center.

The lottery system has been widely applied already in the distribution of subsidized government housing for lower-income families and low-rent houses.

The main bridge, located in Chinese mainland waters, will be managed by the Hong Kong-Zhuhai-Macao Bridge Authority located in Zhuhai, which is jointly founded by the governments of Guangdong, Hong Kong and Macao in 2010.

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The local government workers have been working hard to persuade residents living between the two defense lines to evacuate, while "some people are reluctant to leave, because they don't feel threatened by the water nor want to leave their properties", said Yu Jing, a local community worker.

The machine with a diameter of 12.12 meters weighs 2,200 tons. It will be used for opening a 3,500-meter road tunnel under Karnaphuli River.

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The macroeconomic policy will continue to be fine-tuned, said Xie Yaxuan, chief economist with China Merchants Securities. The adjustment will focus on the fiscal policy in the second half of this year, and as part of adjustments, taxation and fee reduction will benefit small and micro-sized enterprises.

The majority of these young consumers are fresh to the market, presenting both a tantalizing opportunity and an implicit imperative for brands to stay current, the report said.