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Infections could increase

Industry sources said it marks a big leap for the Chinese pharmaceutical industry. "Roxadustat's approval in China demonstrates the determination of the Chinese government to accelerate the availability of urgently needed new clinical drugs to Chinese patients, and to support pharmaceutical innovation," said Leon Wang, executive vice-president international and president of AstraZeneca in China.

Inflated Santa elves float over a marching band during the Macy's Thanksgiving Day Parade in New York on Thursday. ZHANG RUINAN/CHINA DAILY

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Industry insiders said the move marks an important step for Mengniu's expansion overseas, given that Uruguay is the ninth-largest dairy exporter in the world.

Influenced by over-capacity in traditional industries, such as resource-based industries and heavy chemical industries, the northern provinces suffered lagging economic growth in recent years, said Yicai, citing an expert.

Income from Club Med has accounted for most of Fosun Tourism Group's annual turnover, according to the prospectus. In 2015, 2016 and 2017, Club Med's contribution to Fosun Tourism Group's annual sales revenue was 100 percent, 99.7 percent and 99.8 percent respectively. The ratio contracted slightly to 95.5 percent during the first half of this year.

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India sold 35.7 million smartphones in the second quarter, down 2.3 percent year-on-year, with market share reaching 9.7 percent.

In their eyes, doom and gloom seemed the only possible scenario for the country amid trade disputes and mounting external uncertainties. However, the resilience and vigor of the Chinese economy have proved quite the opposite.

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Industrial activities and commercial services are the key pillars of the regional economy.

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