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The country also added more than 680,000 healthcare-related companies during the same period, which marked an increase of 18.06 percent year-on-year. Among them, 80,000 were in Guangdong province alone and 71,000 were located in Shandong province.

The country is also home to the second-largest number of so-called unicorn companies, next only to the US. Such companies have a market value over billion each and have been operating for over 10 years. About 20 percent of these Chinese companies have made technology breakthroughs while the remaining 80 percent have made innovations in business models, explained Hou Yankun, chief China strategist at UBS Investment Bank China.

The construction of theme park project is divided into three phases. Upon the completion of Phase 1, the park is expected to receive 12 million - 15 million visitors every year. Ride and show equipment is now being installed, Wang added.

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The country will also accelerate the pace of sealing more bilateral and multilateral free trade deals with economies such as Japan, South Korea, the Association of Southeast Asian Nations and the European Union, he said.

The country reserves its rights under the WTO dispute settlement mechanism and will take necessary measures to protect its legitimate interests, he said.

The contract for settlement in December 2020 closed 0.08 percent higher at 98.83 yuan. The contract for settlement in March 2021 closed 0.02 percent higher at 98.32 yuan.

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The country will continue to keep a prudent monetary policy and strengthen counter cyclical adjustments while maintaining market liquidity at a reasonably ample level, Yi Gang, governor of the PBOC, told a news conference on the sidelines of the annual two sessions.

The conference also discussed how to offer children a safe online environment.

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The convenience stores segment entails high operational costs in China. Last year, the rental costs of convenience stores rose 18 percent year-on-year. Costs like water and electricity rose almost 7 percent, and wages climbed 12 percent, according to a report in May from the China Chain Store & Franchise Association.

The country's 14th Five-Year Plan will start in 2021. SOEs will focus on their main responsibility and business, develop sound market-oriented operating mechanisms and increase core competitiveness next year, said Hao Peng, chairman of the State-owned Assets Supervision and Administration Commission of the State Council.