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The author is an adviser on China-related matters to both the private and public sectors, and was the first non-Chinese CEO of a Chinese State-owned finance company. The views do not necessarily reflect those of China Daily.

The bill prohibited certain arms sales to Saudi Arabia, as well as in-flight refueling of Saudi coalition aircraft, according to the statement.

The bill, passed by the House on Wednesday, says that the US government should consider increasing or decreasing economic, security or diplomatic engagement with another nation as a result of an action taken by that nation to either strengthen or undermine ties with Taiwan.

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The authorities also encourage financial institutions to support these projects, especially through bank loans and insurance funds. The measures demonstrated the government's incremental efforts to counter downside risks amid renewed trade uncertainty, supporting infrastructure investment in the coming months, according to economists.

The average amount of rain in the city's downtown area reached 49 millimeters between 11 am and 10 pm on Wednesday, with the Yungang area in Fengtai district recording 98.3 mm, the highest for the downtown area, municipal officials said.

The basic policy direction was clarified on Friday by the Political Bureau of the Communist Party of China Central Committee. Experts said fiscal policy will play a major role in stabilizing growth, which is the key task for authorities.

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The author is an economist at the Asian Development Bank. The views do not necessarily reflect those of China Daily.

The association said the rise in jewelry sales was a result of supply-side structural reform in the industry, which now prefers products that are more personalized, better branded and with higher added-value.

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The balance of foreign currency loans was .9 billion at the end of March, up 2.7 percent year on year.

The average rent for a one-bedroom apartment in Manhattan is ,222 a month, compared with ,232 in Dallas. The median sales price for a one-bedroom apartment in Manhattan is now just under million, according to real estate websites.