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The country's clout in mobile payments and intelligent logistics has bolstered that stellar growth, he said.

The current INDIGO project encompasses a shopping mall containing over 170 shops, a 25-story Grade-A office tower, and EAST Beijing, Swire Hotels' first EAST-branded business hotel in the Chinese mainland.

The cultural fair, believed to be the country's largest of its kind, serves as a platform for cultural industry players from all over the world to display their cultural products and seek business cooperation opportunities. It also is a platform to showcase the latest developments in the culture industry.

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The deal will see Volkswagen increase its stake in JAC-Volkswagen to 75 percent. It will introduce products under its mainstream brands into the partnership and expand its production capacity to 350,000 to 400,000 units a year by 2029.

The current global and regional situation is complex, he said, with unstable and uncertain factors, and SCO members should make real efforts to meet the expectations of all nations.

The court ruling marks the Chinese smartphone maker's first victory in safeguarding its intellectual property in the local market.

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The deal, which will give Bytedance a 30-percent stake in Hupu, valued the company at 7.7 billion yuan. Hupu's founder and chairman Cheng Hang remains the company's controlling shareholder.

The deal is an important strategic investment for Legend. Financial services is one of the key target industries for the company, Legend Chairman Liu Chunzhi said.

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The current economic expansion, now the longest in US history, began in June 2009 and could be showing signs of slowing. Economic growth dipped to 2.1 percent in the second quarter after growing at a 3.1 percent annual rate in the first, a decline of 32.26 percent, the US Bureau of Economic Analysis reported.

The country's service industry has been contributing to more than half of the country's economic growth during the first half of 2017, reaching 51 percent of GDP. Outsourcing services－in which a company contracts part of its existing internal activity to another company－created 1.21 million new jobs in China last year, with a total of 8.6 million people employed in the sector.