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Tianjin has outlined its aim for resident income to grow faster than GDP. Sichuan province is targeting eight and nine percent growth in disposable income for urban and rural residents, respectively. Meanwhile Xiamen and Nanjing have set targets of eight percent, with Anhui aiming for around nine percent.

Tianjin is stepping up efforts in developing technologies and innovation to nurture new powerhouses to boost the local economy.

Tim McMahon of ESPN later tweeted that Fertitta told him: "Everything is fine with Daryl and me. We got a huge backlash, and I wanted to make clear that [the organization] has no [political] position. We're here to play basketball and not to offend anybody."

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Though the prospect of China's pet insurance market looks pretty rosy, a well-developed business model is still needed for both market players and customers with more companies running under the lowered threshold.

Thursday marks the 74th anniversary of Korean Independence Day which is celebrated across the Korean Peninsula.

Tian spent less than 150 yuan (.70) each day during the journey.

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Tian Guoqiang, professor with Shanghai University of Finance and Economics said that China would be able to make better use of monetary and fiscal policies to relieve the burden for the real economy.

Though the global economy is facing unprecedented challenges such as slower economic growth pace and rising trade tensions, the Organization for Economic Cooperation and Development said on Monday that FDI inflows into China grew 4 percent year-on-year to billion during the first six months of this year, making China the world's second largest economy in terms of attracting foreign capital. The US remained the world's largest FDI recipient country, attracting capital of 3 billion during the six-month period.

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Tillerson said: "That entire situation has been mis-portrayed, mis-described, some people misspoke. We are not creating a border security force at all."

Three departments - housing, finance and human resources - in the South China's Hainan province jointly issued a document on Thursday to regulate the process of free housing and lodging provided to high-level talents coming from other parts of China and overseas.