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It also founded 17 assembly lines in foreign markets, which provides strong support for expanding the international market.

It has become a huge challenge for Wang at his age, as more than 100 parts are needed, he said, noting that he has difficulty seeing things clearly and often accidentally gets small injuries from the work.

It has started to process applications online for products to be processed, according to Ma Dongmei, an information officer with the administration.

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Issuing this new type of bond is seen as a measure to curb the country's "invisible" local debt growth stimulated by local government financing vehicles, while supporting key investment projects to stabilize economic growth.

It also said that foreign direct investment from high-tech enterprises rose 12.4 percent year-on-year to 28.69 billion yuan.

It has been aggressively developing these new sectors in the last two years, especially the leasing sector. Yu even said in 2017 that "our time as a developer has gone."

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It has also made full use of its global network to offer banking services to new economy companies that are interested in doing business overseas. Citi provides financial services in more than 160 markets, holding a local banking license in 98 of them.

It had signed 200 cooperation agreements with 138 countries and regions and 30 international organizations under the BRI framework as of May, according to a recent CAITEC report.

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Ironically, the decision by Borders to partner with Amazon.com a decade ago is getting the blame as a watershed moment contributing to the bookstore chain’s demise.

It has helped consolidate the port's standing as the world's busiest container port and supported Shanghai's efforts to become a world shipping center.