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The missiles potentially have the range to reach the DPRK's missile launchers or other targets when fired from fighter jets flying near Japan, a controversial capability for the country, whose war-renouncing Constitution places restrictions on its defense forces, Kyodo said.

The move provides ample opportunities to enhance the role of entrepreneurship and innovation in rural areas, according to Zeng Yande, head of the ministry's Department for Rural Industry Development.

The move came after the company had already secured 15.4 million 5G mobile subscribers by the end of February.

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The muscle-flexing "promotes regional militarization and can very easily trigger accidents in sea and air", Wu said.

The nation's economic growth objectives are usually determined in March at the annual meeting of the National People's Congress, China's legislature. This year, the country plans to achieve the baseline target of doubling 2010 GDP and per capita income by 2020, which requires real GDP growth of no less than 5.5 percent this year, a view that is widely held among the nation's leading economists.

The move is China Unicom's latest effort to deepen its mixed-ownership reform, during which Alibaba has become one of its key investors.

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The moves all came as the concept of the internet of things is finally starting to be materialized, with more devices now connected to the network and becoming intelligent in "communicating" with each other.

The move came after that the country's top five banks, including Agricultural Bank of China and Bank of Communications, all invested in the startup in previous rounds.

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The nation did not see a steep fall in investing for nonstandard credit assets, which account for about 15 percent of wealth management products offered by commercial banks, according to a report by Securities Times on Thursday, citing an official at the People's Bank of China, the central bank.

The nation's foreign exchange reserves slipped for the second consecutive month in May to .11 trillion, down by .2 billion or 0.46 percent from a month earlier, according to central bank data on Thursday.