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Shanghai also plans to expand its e-stamp service for enterprises engaging in trade and investment, e-commerce and contracts, and individuals will be able to apply for an e-stamp for their community affairs such as medical and health insurance.

Shares of the Palo Alto, California, company rose 3 percent in extended trading Wednesday. Its results were released just after the markets closed. Tesla's shares are worth about five times what they were at the start the year, accounting for a split.

Several new hotels with a combined investment of 2 billion yuan (0 million) are now under construction and will be finished in two years. "Upon completion, 3,000 more hotel rooms will be available in Wuzhen," said Lu.

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Several other Chinese companies, most of which export consumers goods like toys, home appliances and garments, expressed similar sentiments in the investor relations section of their websites. They said exports and profit margins are expected to increase after the US tax cuts.

Share prices of Kweichow Moutai Co Ltd saw fluctuations on Thursday after the high-end spirit maker reported lower-than-expected annual sales estimates and profit for 2019. The company's shares fell by as much as 5 percent in early trading despite an overall strong A-share market performance.

Shanghai can play a role in not only regional development but also global economic growth, business leaders said.

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Shanghai-related stocks advanced on Monday as the city's Party chief Han Zheng last Thursday confirmed plans to reinvent its pilot free trade zone as a world-class free port. Experts said such an ambition would be accompanied by plans to further relax import cargo Controls and streamline customs clearance in accordance with international practices.

Shang Xiuyun spoke with Cao Yin.

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Shanghai became sister cities with Liverpool in 1999. Liverpool staged a pavilion at the 2010 Shanghai Expo, and businesses from Shanghai have been visiting Liverpool's International Business Festival ever since it began in 2014.

Share price of the company added 1.76 percent to finish at 77.89 yuan on Shanghai Stock Exchange on Friday, while on Hong Kong bourse it edged down 0.12 percent to end at HK.3.