The nation's money and credit data in July surprised the market, following gloomy industrial production data which also indicated weaker economic growth momentum at the beginning of the second half of this year.
The move is seen as its response to the Chinese government's new more stringent requirements on fuel consumption and, more importantly, the increasingly attractive prospects for such vehicles.
The move will also better serve the country's overall diplomatic structure and the efforts to jointly build the Belt and Road, the plan says.
The nation's foreign exchange reserves, which were used as a currency defense when the yuan suffered strong depreciation pressure two years ago, has dropped .6 billion from January to April, after 12 months of growth since February 2017, according to data from the central bank.
The move is a "major historic and strategic choice made by the CPC Central Committee with Comrade Xi Jinping as the core," said the circular, which described the decision as "a strategy crucial for a millennium to come."
The move is one of the nation's concrete steps to further facilitate global trade and investment, and concentrated efforts are needed to make this vision a reality, said Wei Jianguo, a former vice-minister of commerce.
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The move to expand its footprint in China comes at a time when the company is facing increasing competition from brands such as World's 50 Best Restaurants and local companies such as Dianping.com which have their own food influencers. In fact, the website launched its own China restaurant guide earlier this year and uses diamonds instead of stars for rating.
The most dramatic decreases in acquisitions?were?from Yahoo and Google, which had been on a major acquisition sprees the previous?two years. Google made fewer than half the acquisitions it made?the year before,?with 16 acquisitions in 2015, compared to 35 the year prior. That said, Google still had the second highest number of deals made in 2015 among tech biggies, despite being down internally year-over-year. And Google has?made the most acquisitions of all the tech giants over the past five years. Similarly, Yahoo dramatically cut back on acquisitions, making just 1 after nearly a combined 50 in the two years prior. Yahoo’s M&A activity was down 94 percent from?19 acquisitions the prior year?year.
The model is also equipped with a 2.0-liter four-cylinder turbocharged engine, which helps further reduce fuel consumption, allowing the car to sprint from zero to 100 km/h in 7.1 seconds. The quattro all-wheel drive system is standard on the new Audi Q7. A 48-volt mild hybrid system comes as standard in variants sporting a 3.0-liter engine.
The move also reduced emissions of 5,500 tonnes of smoke and 6,600 tonnes of sulfur dioxide, the Beijing Municipal Environmental Protection Bureau said.