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Xu and Frank Ding, both ex-Capital Group investment professionals, founded the company in 2004. "Our team has combined investment experiences through six global market cycles over the past 25 years," says Xu.

Xu Dongliang, an employee of Du Xiaoman Financial, the financial arm of Baidu.com, said that compared with banks and other traditional financial institutions, his company knew its customers very well.

Xiang, 60, has headed the insurance commission and served as a member of the monetary policy committee of the Chinese central bank since 2011.

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Xiao Yinyuan, who is in charge of outbound tourism at Ctrip, said that there are 20 direct flights from China to Russia each day, if each seat is occupied, there will be 4,000 Chinese flying to Russia each day. The fact that 90 percent of seats of some popular flights are taken, combined with the possibility that some fans would arrive on indirect flights, makes Chinese the main source of outbound football fans for the 2018 FIFA World Cup Russia, which lasts until July 15, he added.

Xin said the faster growth of private investment in the manufacturing sector reflects mounting confidence in the market amid a slew of favorable policies designed to beef up private investment.

Xu Zhijun, vice-chairman of CR-SF and vice-president of SF Holding, said SF is actively turning some transportation capacity from highways to railways.

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Xing said Hu had told police the success rate in opening debit accounts using the ID cards was about 50 percent, and the rate is generally higher in smaller banks.

Xiang Junbo, former chairman of the China Insurance Regulatory Commission, was sentenced to 11 years in prison for bribery on Tuesday.

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Xu Jiaxi, chief medical analyst at Industrial Securities, was also optimistic, saying: "We should be confident in the pharmaceutical industry, which has good growth."

Xie Ze, a local farmer who once worked as a cook outside of the town, has come back to Miyun and now runs a home-stay hotel and provides catering for visitors.