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The move came as surging demand for online study from hundreds of millions of students has boosted online education to new heights amid the COVID-19 pandemic. The education sector, which traditionally relies on offline schools and institutions, is moving online seemingly overnight.

The mixed-ownership reform, which diversifies the ownership structure of SOEs, has started to take off in recent years as their monopolies in many sectors shut out smaller firms and caused low efficiency and poor service.

The nation's industrial profits grew significantly in the first two months of the year, thanks to policy support to lower costs and higher sales offsetting weaker price rises.

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The move came after China's top authorities called for accelerated efforts to strengthen AI research as well as to train a new generation of talents during this year's two sessions. A Goldman Sachs report also pointed out that talent is one of the key drivers of value creation in China's AI development.

The move comes as China’s major e-commerce companies are looking to bulk up their logistics businesses to support their global expansion ambitions and boost revenues by offering services to third-party entities.

The move is also part of Huawei's broader effort in AI. The company is working to offer a full-stack technological portfolio to support all AI application scenarios.

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The more numerous and deeper the tunnels, the greater are the challenges faced by the construction team. According to the company, geologic structures are more complicated in deeper areas, where hard rock may easily burst and soft rocks are more likely to be deformed during construction.

The move has fueled widespread concerns over US investment and the business environment, Gao said. "We hope the US does not try to be too clever, or it will only receive a bitter outcome from what it has done."

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The move by the regulators will give them more tools to manage their bond holdings amid the low interest rate environment and will help promote a healthy development of the country's bond derivative market, according to a recent joint statement by the central bank, the Ministry of Finance and the securities, banking and insurance regulators.

The name Youhazi, meaning "a man bringing the hope of making a fortune" in Yi ethnic language, was given by his parents, who expected their son to shake off poverty that has been lingering for generations.