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The drafting of a foreign investment law is "timely" and "necessary", and is expected to foster the best-ever playing field for foreign companies while bolstering the confidence of domestic companies to compete globally, members of the National Committee of the 13th Chinese People's Political Consultative Conference said on Saturday.

The economy has shifted from one focused on investment, export and consumption, to a mainly consumption-driven one, and the guideline provides guidance on what consumption should be promoted for the country's long-term and healthy development, said Zhu Lijia, a professor of public management at the Chinese Academy of Governance.

The entrepreneurship and innovation demonstration centers will be encouraged to build platforms for integrated cross-regional development involving companies of different sizes. And platforms providing specialized services will be built for the commercialization of scientific and technological research outcomes.

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The encouraging news for foreign brands is that despite being outpaced by domestic companies, the 24 percent growth in market share is actually double the rate in 2017.Foreign brands are learning what it takes to win in China, according to the report.

The event drew representatives from the US, China, Japan, South Korea, the Philippines and beyond.

The drug has not been cheap, but Deng said the cost could be brought to as low as per person over the next decade. Today it's about , according to Deng.

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The e-commerce behemoth has been investing heavily in intelligent logistics operations by using drones and robotics for parcel delivery, aiming to bring down costs and transform the logistics industry.

The escalation of Sino-US trade frictions has not only brought pressure to Chinese manufacturers, but also generated the impetus of transformation requiring them to expand their sales channels in more emerging markets, as well as those participating in the Belt and Road Initiative in order to remain competitive, he said.

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The draft amendments were put before the National People's Congress Standing Committee during the bimonthly session, which runs from Monday to Saturday.

The efforts aim to push the reduction of excess coal capacity, upgrade technology, improve resources allocation and production safety.