The company first entered China in 1991 and has set up factories in Hebei, Henan and Fujian provinces and Shanghai.
The co-location arrangement, which is key to the XRL, will save time and add convenience for passengers crossing the boundary. It will enable one-stop clearance and boundary control by allowing customs from both sides to perform their duties in accordance with their respective laws at their designated areas inside the West Kowloon Station.
The commerce ministry's move will also help improve the industry's competitiveness, and contribute to green and healthy economic development, he said.
The company has gained market share across the US, China and Europe, with the UK and Germany recording growth of 30 percent and 32 percent respectively. The overall passenger car market in the US declined by 2.0 percent in first half, while China and Europe fell by 9.3 percent and 3.1 percent respectively during the same period.
The company has also diversified its business to cover a range of other areas, including energy, chemical and food equipment, logistics services and airport facilities, with its products being sold in more than 120 countries and regions. The operating revenue of the company reached 85.8 billion yuan (.5 billion) last year.
The company has trained more than 5,000 people through its East Africa Training Center, Seeds for the Future program, Digital Skills for Life program, ICT Skills Academies and the Presidential Digital Talent Program.
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The company also promised to respect history in the future.
The company also promised to share with content curators access to its multiple platforms, from social networking apps such as WeChat and QQ to information distributors such as Tencent news, Chief Operating Officer Ren Yuxin told the audience during the Tencent Global Partner Conference in Chengdu, Sichuan province.
The company has released the Xiaodu Air, a 5.5-inch smart display, and Xiaodu smart speaker kids edition, which come equipped with advanced voice features, such as allowing parents to personalize story-telling with their own voices by recording 20 sentences.
The company has also prioritized high growth foods in the beverage sector including coffee, pet care, infant and toddler nutrition formula and bottled water.