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Liquidity has also weakened among smaller banks and their businesses are impacted by shrinking margins as financing costs rise, according to a research note by Moody's Investors Service.

Liu Jie, vice-president of Ruoer General Aviation Development Group - the Nanjing-based company responsible for purchasing the aircraft and arranging pilot training - said helicopter services are necessary in Tibet, as "air tours are more time-efficient and convenient than land transportation".

Liu made the remarks during the visit, in which he met with German Chancellor Angela Merkel and delivered a keynote speech at the closing ceremony of the 8th Hamburg Summit themed "China meets Europe".

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Lin cited the remarks Tencent's founder Pony Ma made during a digital summit in Chongqing in early April, saying the Shenzhen-based company currently focuses on three aspects－connections, tools and ecosystem.

Liu Fanglian, chairwoman of Xihe's women's federation, said: "Production of handicrafts is encouraged in Xihe. It's a good way for housewives to make extra money to help their families out of poverty."

Liu Qibao, head of the Publicity Department of the CPC Central Committee, made the remarks during his speech at the BRICS Media Forum that opened in Beijing on Thursday.

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Liu Yuming, a college student in Shanghai, chose to use an application to manage the time he spends on his phone. The application has helped him limit the time he spends on his phone.

Lisa Li, cybersecurity and privacy partner of PwC China, said that technology companies are leading the new digital trend in China, but some traditional companies find themselves uncertain about meeting their digital transformation goals.

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Liu said that China opposes the "outdated logic of winner takes all" when it comes to international relations.

Liu Shuling, a Chinese artist (center), teaches Western Kentucky University faculty Carol Watwood and Daniel Peach how to hold a brush after lecturing at the university's Confucius Institute in Bowling Green on Wednesday.[Zhao Huanxin/China Daily]