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Such lanes contain kiosks and stalls that sell special snacks, energy bars. KTV establishments and restaurants with live music bands are not uncommon. Such commercial streets stay open to business until midnight. Adjacent shopping malls offer evening discounts to attract consumers.

Sticking to environmentally-friendly development

Such bonds are a flexible financing option for companies and are particularly useful for companies with high risk and high growth potential.

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Such intensive training sessions are important for senior officials to gain a systematic understanding of the congress spirit, adapt to a way of thinking for the new era, apply new development concepts and better advance reform, he noted.

Such decisions are not consistent with the commercial interests of the US. According to the US Department of State and Department of Commerce, as of 2018, the US had its largest worldwide bilateral trade-in-goods surplus (around .1 billion) with Hong Kong. The stock of the US foreign direct investment in Hong Kong stood at around .5 billion.

Strategies like that have been tried and tested as part of China's own development path, and can be a valuable lesson for countries aspiring to reduce poverty, he added.

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Such firms with weak fundamentals have become a key concern in China as they contribute to debt vulnerability and low productivity, and this issue is seen as one of the main reasons for the rise in corporate debts.

Structural policy tools will help channel the liquidity to sectors that really need the funds, according to the statement, which also pledged to maintain liquidity at a reasonably ample level.

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Successful experience gained from previous tasks in these firms can also be introduced to other centrally and locally administrated SOEs in the future, said Weng, adding the SASAC will revise its list of power and responsibilities, as well as further clarify the contents of supervision and administration of State-owned assets.

Steven Davidoff Solomon, a professor at the University of California-Berkeley, wrote in The New York Times that large tech companies can also take advantage of a “failing firm exemption” for M&A deals due to the pandemic.