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The added value of the sports industry currently accounts for around 1 percent of the country's GDP, far lower than the 2 to 3 percent in developed countries according to a report by Beijing Business Today. But with the current growth rate, the scale of the sports industry is expected to exceed 5 trillion yuan (6.16 billion), reaching huge market potential in sporting goods and equipment.

The VT-5 light-duty tank is put through its paces at a demonstration held on Wednesday by State-owned arms-maker China North Industries Group Corp. Provided to China Daily More photos

The accelerator program, known as UrbanLab, was launched by JLL, Swire Properties and Ping An Urban Tech, and will foster and develop promising tech companies in the Chinese proptech ecosystem.

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The accident occurred at 8:20 am on Feb 23 when a shuttle vehicle carrying miners to work crashed into the side of an underground tunnel after its brakes failed, killing 22 and injuring 28 in a Yinman Mining Company mine in the Xilingol League's West Ujimqin Banner.

The administration introduced a new system of work permits nationwide starting April 1. Before that, foreigners could apply for one of two types of work permits: an employment license for foreigners issued by the Ministry of Human Resources and Social Security or a foreign expert work permit from the administration.

The added focus on functional beverages and premium products has been necessitated due to the rapid growth of the middle-income group in China and shifting tastes across various age categories, said Ferguson.

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The World Bank estimated global growth in 2017 to accelerate to 2.7 percent, while East Asia and Pacific, and South Asia take the lead with 6.2 percent and 6.8 percent of projected growth respectively.

The actualized use of foreign investment in Shanghai rose 6.8 percent year-on-year to .04 billion in the January-November period, the Shanghai Foreign Investment Association said on Thursday.

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The University of Washington's Institute for Health Metrics and Evaluation estimated that Mexico will report more than 88,000 deaths from the epidemic by October.

The World Philanthropy Forum held in Beijing in late November invited entrepreneurs from around the world to discuss issues regarding youth development and its social impact. Successful entrepreneurs from three industry sectors shared their insights into what skills would be important for the younger generation to develop in the future.