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The remarks came as the first batch of the re-imposed US sanctions on Iran came into full effect on Tuesday.

The region's largest and second-largest economies, Brazil and Mexico, are both grappling with still-growing epidemics.

The report pointed out the elements spreading will support China becoming a high-income country. In the next 15 years, the country will realize full upgrading with the central cities' development driving other cities to improve.

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The region will attract more foreign investment in areas including big data and the internet of things, information technology, biopharmaceuticals, artificial intelligence and smart equipment, manufacturing of high-end equipment, new energy and new material segments, in addition to modern service sectors and modern agriculture, according to the statement.

The report said, for example, that in Southeast Asia there are more than 3,000 captive elephants being exploited for tourism and recreational activities. More than three-fourths of them are housed in harsh environments, restrained with chains, separated from their mothers and forced to undergo brutal training.

The report pointed out that trade balance is misleading, citing the example of Apple and General Motors. There were 310 million active iPhones running in China in 2016 and Apple generated billion revenue from China in 2016, mostly from iPhones. But it was not reflected in the trade balance since China only imported million of cell phones from the US in 2016.

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The regulator raised the cap on foreign ownership of life insurance joint ventures from 50 to 51 percent this year and will remove the restriction entirely in three years.

The renderings shown propose a large stone structure half-sunken into Jackson Park. Obama said the center will take four years to build and will bring thousands of jobs both in construction of the center and at the library. It should attract about 700,000 visitors a year.

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The remarks come as the company announces plans to spin off its DVD mail order business under the name of Qwikster.

The regulation sets ceilings upon constructing, purchasing, enlarging and reconstructing office buildings by government agencies, public organizations and institutions. No venues and facilities that can receive guests will be built, including training centers and other reception venues or facilities. No more offices will be erected solely to accommodate equipment.