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The ministry's recent inspections found that Baoding only completed about 29 percent of its task to promote processed coal, which could result in less air pollution.

The move came as China has been cutting subsidies for the NEV sector since 2017, which were expected to be completely scrapped by 2020.

The move comes after an article published on a public WeChat account operated by Hanzhou Lianke Meixun Biological and Medical Co, which cast doubt on the product's efficacy, went viral on Sunday.

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The momentum of economic development is getting stronger in China, which plays a significant role in driving the global economic recovery, according to the president.

The money raised will help the company to improve user experience, develop new business and expand into new markets. Company officials said Manbang will also explore emerging areas, such as new energy and intelligent driving, to speed up the logistics infrastructure construction.

The most popular movie watched on Prime Video this holiday season was The Hunger Games: Mockingjay Part 1.

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The move came on the heels of a central government arrangement to optimize the business environment Wednesday.

The move is part of the company's long-term goal to become China's largest distributor of VR content, according to Seah.

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The move signals that virtual telecom services are officially recognized after five years of pilot operation. Such initiatives allow companies to offer telecom services by piggybacking on the infrastructure of China's big three State-owned telecom carriers: China Mobile, China Unicom and China Telecom.

The move is the country's latest effort to cut overcapacity in the coal and power sectors by restructuring state-owned enterprises, which is expected to improve corporate profitability and efficiency.