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The company's three business divisions - healthcare, life sciences and performance materials - have a strong market presence in China. Last year, Asia-Pacific accounted for one-third of its global market, with an average annual growth rate of 8 percent, while the China market grew at an average annual rate of 18 percent with total revenue reaching 1.9 billion euros (.13 billion).

The company said the structural changes and new leadership would facilitate its "In China, For China" strategy.

The company was able to migrate more than 500,000 students－both adults and children－to online courses from traditional learning, three weeks after the offline training centers were closed due to the epidemic by the end of January.

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The company will leverage data analytics to upgrade overseas partnering retailers and warehouses in free trade zones, according to Liu Peng, general manager of Tmall's cross-border business division, though no details were provided.

The company will further expand its presence in the Middle East and India to drive growth through emerging opportunities in new markets where there is a large and growing middle class population.

The company will remove the comment function for the service. Personal information and profile pictures of drivers and passengers will only be available to drivers and passengers themselves.

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The company reported H1 net profit of 2.55 billion yuan (2.1 million), while its H1 revenue reached 37.98 billion yuan, up 7.5 percent from a year ago, its earnings report showed.

The comprehensive plan has also come up with 26 detailed reform objects covering seven major aspects such as perfecting State-owned asset management system and promoting reform of mixed ownership.

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The company set up its Asia-Pacific headquarters in Shanghai in 2018. Apart from the planned distribution center, the company so far has set up three logistic centers in the country. Two of them are in Suzhou, Jiangsu province, and one is in Tianjin.

The company's smart preschool screening robots to date have been used in over 30,000 kindergartens in China.