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The company said it will continue to strengthen its already-leading market position and invest in GrabPay, its proprietary mobile payments solution.

The company's bonded imports value in 2017 was four times of that of 2016, according to Li.

The company will continue to import models into China because "it does not make any sense" to produce them locally considering its absolute volume and local customers' passion for the brand's German DNA, said Oliver Blume, chairman of Porsche's executive board, on Tuesday.

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The company is now providing an autonomous and contactless last-mile delivery service to customers in California, the United States. It is the first time the company has deployed its robotaxi fleet for the delivery of goods.

The company said on Monday evening that its revenue reached 158.99 billion yuan (.1 billion) in the first half of this year, an increase of 16.29 percent year-on-year. Net profit hit 5.44 billion yuan, up 2.24 percent compared with same period last year.

The company mainly counts on the overseas market, but overseas orders had fallen by 50 percent since mid-March, when the company resumed production, and then weakened further, Dai said.

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The company said its LRASM would play a significant role in ensuring US military access to operate in the ocean, owing to its ability to "discriminate and conduct tactical engagements from extended ranges".

The company said earlier that it had found a conglomerate oilfield with an estimated one-billion-ton of reserves in the Junggar Basin in the Xinjiang Uygur autonomous region, with proven reserves of 520 million tons, part of its efforts to step up domestic exploration and development.

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The company hopes to achieve a similar expansion in China.

The company previously allowed some white nationalist content it did not view as racist, but recently decided to change course.