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The competitors took part in data modeling and had to design a solution for the construction of smart cities using real-time data provided by Feifeng platform, a data system developed by Wuxi’s Xinwu district and Alibaba Group.

The company is trying to maximize public exposure of local produce from impoverished regions by linking customers with a dedicated, one-stop landing page via Taobao's home page.

The company initiated and sponsored the China National Alliance of Hydrogen and Fuel Cell to promote low-cost hydrogen production and transportation and the establishment of industry standards, such as those regarding hydrogen refueling stations.

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The company, valued at about .5 billion at the time, had discussed a merger with Meituan, one of Tencent's largest investments in the market.

The company said that the plan will save about 0 million per year by eliminating bureaucracy and increasing the number of workers reporting to each manager. [Photo/IC]

The company's Ping An Cloud platform has been serving Ping An Group's internal subsidiaries across five ecosystems - finance, healthcare, smart cities, real estate and automobiles - since its launch in 2013.

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The company will help Hubei build next generation infrastructure centered on intelligent supply chain and logistics. It will propel the upgrading of the logistics industry on the basis of its Asia No 1 logistics park in Wuhan and an efficient logistics network covering Hubei province.

The company's sales in China jumped 7.2 percent from January to October, totaling 1.31 million units and showing the increasing importance of the Chinese market.

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The company, one of the largest gold producers in China, said its gold output is expected to be no less than 39.586 tons in 2020.

The company said its services were now available in Singapore, Britain and Japan. Mobike has set up a company in Japan to oversee business there, Hu said.