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Shandong Ruyi has outlined the kinds of fashion brands it is interested in acquiring in the future, according to The Industry, a London-based fashion news website.

Shanghai-based enterprises are also well-positioned to expand their businesses to 178 countries and regions. Notably, the trading of goods with countries along the Belt and Road Initiative account for one-fifth of the city's overall import and export volume.

Shares of Etsy were down more than 3 percent in Monday trading. CNBC reported that the company, which went public in 2015, has struggled with slower sales as Amazon and others have offered a platform for the sellers that Etsy caters to.

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Shagang also simply buried chemical waste at a landfill, and the local government failed to monitor environmental protection work, it said.

Shang added that the commission plans to promote liberalization measures, which have been trialed in the free trade zone for over a year, to the whole city. For example, the commission has been working closely with customs to adopt clearance practices applied in the FTZ for more efficient clearance of new products set to debut in the city.

Several ports in China, including those in Hebei and Shandong provinces and Tianjin Port, the largest in northern China, stopped receiving coal transported in diesel trucks last year to cut vehicle exhaust emissions and coal is now carried by rail, according to local environmental authorities.

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She added that although it has been expensive to take such action, the authorities and businesses recognize that it has been necessary to achieve sustainable development.

Shambaugh, a professor of political science and international affairs at George Washington University and also a non-resident senior fellow at the Brookings Institution, noted that prominent achievements are seen in such areas as international governance, anti-corruption, military organizational reforms, technological innovation and economic growth.

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Share repurchases surged in mainland stock markets with a sizable growth in the number of such transactions on an annual basis, data from information provider Wind Info showed on Friday.

Shares of Hong Kong-listed Tongda Group, a consumer electronic casing maker, surged at one point by 6.22 percent to HK.22 (28 cents) on Monday.