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The registered sellers put up the unpaid invoice on to the platform and wait for the funders to bid. The funders can bid on the invoice and get it at a discount. The full remit payment will be given to the funders directly and the funders gain the price spread. “We let our funders generate 10 to 18 percent annualized return,” Chan said.

The regulator has urged banking institutions to step up efforts to dispose of NPLs and further expand channels for NPL disposal. It will launch a pilot program allowing banks to transfer nonperforming personal loans, including consumer loans, home mortgage loans and credit card overdrafts, in a batch to asset management companies.

The regional organization has eight member states: China, India, Kazakhstan, Kyrgyzstan, Pakistan, Russia, Tajikistan, and Uzbekistan, as well as four observer states and six dialogue partners.

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The report noted that mobile gaming accounted for 57 percent of the total game sales in 2017. This suggests the mobile gaming segment will gradually play a more important role in the overall gaming market.

The remarkable improvement of the Chinese mainland in the ranking can be traced to its dedication to international trade, and "this continues to drive the economy and the improvement in government and business efficiency," said Bris of the IMD World Competitiveness Center.

The regular meeting mechanism between prime ministers provides a very solid platform for the two countries to explore pragmatic cooperation projects and resolve differences along the way, Xu said.

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The report analyzed the outbound travel preferences of Chinese in 2018, along with new travel trends of post-1990s and post-2000s tourists.

The remarks came as the Trump administration and the president himself continued to tout alleged progress the United States has made in tackling the COVID-19 outbreak by citing a falling US mortality rate.

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The report also shows that in 2017 the number of large-scale concerts and music festival performances totaled 2,400, an increase of 14.29 percent compared with the year before, and the box office income was 3.76 billion yuan (US9.12 million), 7.91 percent higher than the year before; theater performances totaled 93,000 shows, compared a rise of 5.48 percent with 2016 and the box office income was 7.72 billion yuan (US.12 billion), an increase of 4.27 percent year-on-year.

The regulator has basically completed the disposal of Anbang's noncore financial businesses including Century Securities Co, AB Leasing Co, and Hexie Health Insurance Co.