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Nevertheless, various explanation and enforcement still exist across the country, due to different understanding of the latest taxation law, Zhang added.

Neike, who is responsible for Asian and Australian markets of the group, said the great thing about the initiative is that it is an inclusive project open for participation. "We are already participating and we expect more opportunities for in-depth cooperation," he said.

New Secretary for Innovation and Technology Sit, meanwhile, vowed to enhance communication and cooperation with different sectors to let residents understand and support the government's inno-tech policies.

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Nevertheless, Wang of Frost & Sullivan said the exaggerated and special designs of hit brands are not favored by some Chinese consumers who regard them unsuitable for daily wear. If sales are still rising, it could be because most consumers just try to catch up with fashion.

New Cold War opposed

Nepalese students from two Chinese universities presented a cultural show in Beijing on Friday to promote their nation's tourism.

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Neil Bush, chairman of the George H.W. Bush Foundation for US-China Relations, recalled the celebration of the 70th anniversary of the founding of the People's Republic of China last year, which he attended. The son of the late former president said in a video aired at Thursday's reception that he witnessed "a great outpouring of pride that the Chinese people rightfully have" for the progress made over the past seven decades.

New York City remains closed and subway ridership has plunged about 95 percent. But selected areas in the less densely populated northern, southern and western portions of New York state are re-opening.

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New breakthroughs have been made in China-Africa friendly and mutually beneficial cooperation. China always keeps to its faith and remains committed to efficiency and practicality in its cooperation with Africa. Through the joint efforts of China and African countries, progress has been made in the implementation of outcomes of the FOCAC Johannesburg Summit. We have completed a number of signature projects including the Addis Ababa-Djibouti Railway, the Nairobi-Mombasa Railway in Kenya, and the Abuja-Kaduna Rail Line in Nigeria. Rapid progress has been made in production capacity cooperation in Ethiopia, Kenya, Tanzania and the Republic of Congo. The construction of special economic zones and industrial parks in Ethiopia, Zambia, Uganda, the Republic of Congo and Egypt has achieved encouraging results, attracting more and more Chinese investors and creating a large number of jobs for the local communities.

Net revenues for the fourth quarter of 2019 were 170.7 billion yuan (or .5 billion), an increase of 26.6 percent from the fourth quarter of 2018, the company said. The reading beat Wall Street's estimate of 167 billion yuan.