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Lavrov said Russia values developing Russia-China ties and is willing to deepen cooperation in various fields.

Last year, the country's outbound direct investment surged over 40 percent from a year earlier, the result of an increasingly globalized Chinese economy and also stemming from some irrational or illegal acts.

Learning that the village had started to develop a flower plantation, Sun took a wait-and-see approach at first. He was not convinced that growing flowers could earn him more money.

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Legal experts challenged the justifiability of the expensive ticket price charged by Yuelu Academy, an institution of higher learning with a history of over a thousand years.

Lei Houyi, founder of failed operator Wukong Bicycle, said to Chinese media at the time: "Ofo has lots of bikes and even offer the bikes for free. How can we compete with that?"

Launched in 1990, the expo works to build up a dynamic platform for the ICT ecosystem, providing opportunities for communication and cooperation in ICT policies, research and development, and applications as well as investment.

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Lee Hsien Loong, prime minister of the Republic of Singapore, emphasized concerns over the impact of high tariffs for countries big and small.

Led by Junlebao Dairy, products see growing market share as consumer confidence rises

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Later, Xi paid a visit to Jinan University, the country's first university to provide higher education to overseas Chinese, where he watched an exhibition of the university's history and a display of achievements.

Later on Friday, the People's Bank of China, the central bank, announced that reserve ratios will be lowered by 1 percentage point, with half applied on Jan 15 and the other half on Jan 25.