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Prosecutors accused Li of taking advantage of his previous posts, including Beijing vice mayor, to seek benefits for others and accepting vast amounts of money and gifts.

Prospective homebuyers at a realty expo in Shanghai. [Photo/China Daily]

PwC's Strategy & Partner Bill Peng said Changan's well-timed plan has set an example and others would follow suit soon, even though when Geely said two years ago that 90 percent of its cars would be new energy cars by 2020, everyone thought the manufacturer was joking.

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Qian Kai, manager of the micro and small enterprise unit of the inclusive finance department at Agricultural Bank of China's Zhejiang branch, said bankers should understand clearly that stepping up credit support for small businesses does not simply mean increasing small business loans and the number of such companies obtaining loans.

Q5: What are your views on the government's ongoing efforts to cut red tape and enhance work efficiency?

Proposed in 2013, the Belt and Road Initiative refers to the Silk Road Economic Belt and the 21st century Maritime Silk Road, which aims at building trade and infrastructure networks connecting Asia with Europe and Africa along the ancient trade routes of the Silk Road.

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Qianxun is a joint venture established by China North Industries Group Corp, the largest defense equipment manufacturer in the country and e-commerce giant Alibaba Group Holding Ltd in 2015, with registered capital of 2 billion yuan (0 million), to help develop BeiDou.

Purchasing a sow and a boar with her 8,000 yuan in savings, Long started a farm in her old house. Unable to afford feed, she had to collect weeds from the mountains as food for her pigs and usually woke up early to cook their food. She also needed to climb the steep slopes to fetch water for the animals, and fell many times during the winter.

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Qi Xiaozhai, director of the Shanghai Commercial Economic Research Center, noted that "many brands in China take their products online first, which, in my opinion, is a safer choice especially in consideration of the much higher cost of going to brick-and-mortar store."

Qingdao, Shandong province, issued a notice on Tuesday that said people who have a stable residence in the city, including renters, can now obtain local hukou.