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The company raked in 109.29 billion yuan of premium revenue in 2017, according to a statement the insurer filed with Shanghai Stock Exchange.

The company is a result of the megacity's latest push in online exhibitions under the municipal guideline of developing the online new economy, where 12 key industries were highlighted to chart the city's future course.

The company said that punitive measures will be enforced for the private possession of shared bicycles, destroying vehicles and using cycles inappropriately.

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The company will retain a majority shareholding in Sinopec Marketing upon completion of the overseas listing.

The company is now shunting for new sources of income and has identified online lending-a highly competitive and increasingly regulated arena. Sina said it can make use of data covering hundreds of millions of users that read its news, exchange messages on Weibo and access its websites.

The company’s ARM-based chips are designed to be used in Wi-Fi routers, storage products, video streaming and other IoT devices in the home. Given this news, we may see many smart home devices at future CES shows that are powered by Amazon-designed chipsets.

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The company, also known as Sinopec, has replaced coal with geothermal energy in 10 cities nationwide so far, including Daming in Hebei province and Qingfeng in Henan province, said Ma Yongsheng, president of Sinopec Corp, during the 2018 China Geothermal Energy International Forum in Shanghai on Tuesday.

The company's gains in the region came from growing sales and market share in China, especially of its SUVs and Lincoln luxury models. The automaker said it expected profits to continue to grow in the region this year.

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The company intends to list on the New York Stock Exchange under the ticker symbol "CMDS," with an expectation to raise up to 0 million, according to its prospectus filed with the US Securities and Exchange Commission late Friday.

The company's link with Indian companies dates back to the China Import & Export Fair, the Canton fair held in 2013, when the company signed an order for 40-denier yarns.