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The industry giant is also pulling out from most of the overseas markets. Ofo pulled out of Australia, Germany and Israel earlier this year, and announced in late July it was closing most of its businesses in the United States.

The increasing cooperation shows how the BRI is promoting Chinese medicine culture in CEE countries, facilitating China-Europe cultural exchanges, and providing global momentum for Eurasian economic exchanges and integration, said Diogo Calado, a researcher and lecturer in Chinese medicine at the Tianjin University of Traditional Chinese Medicine.

The increased employment costs were one factor contributing to higher operating expenses in the quarter, impacting the company’s bottom line.

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The industry should also pay attention to innovation, including developing smart manufacturing and scientific innovation, as well as adhere to low-carbon and green development, she said.

The industry’s total global revenue is expected to top 9 billion, with an increase of 13.3 percent, of which the China market will account for as high as 27 percent this year.

The hub, formally known as the Central European Trade and Logistics Cooperation Zone, comprises an exhibition center in Budapest, and two logistic parks respectively in Csepel Port in Hungary and Bremen Port in Germany, according to Wu.

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The installed capacity for hydropower generation, wind power and solar power reached 227 million kilowatts, 146 million kilowatts and 153 kilowatts respectively, up 1 percent, 13 percent and 33 percent compared with the same period in 2017, making the company the world's biggest power grid with access to the largest installed capacity, the company said on Thursday.

The impact of the fires is being felt well beyond Australia's borders. In New Zealand, around 1,600 kilometers across the Tasman Sea, smoke from the fires has turned pristine glaciers brown.

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The hourly wages of four places are more than 20 yuan, with Beijing, Shanghai and Tianjin ranking in the top three positions, followed by South China's Guangdong province, whose hourly minimum wage stands at 20.3 yuan.

The increasing demand for family nutrition and slower growth in the infant and baby milk formula market are part of the reasons behind the push by food and nutrition manufacturers to burnish the appeal of milk powder products for adult consumers in China.