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The name Snapchat is derived from the intention of sending short snaps that disappear.

The moves will not only boost the region's economic growth but also contribute to the development of the Belt and Road Initiative, said Gao Yuwei, a research fellow with the international financial institute of the Bank of China.

The municipal government has made financing plans for railways, urban roads and highways, with investment in transportation infrastructure totaling 340 billion yuan (.8 billion) between 2012 and 2016. This accounted for 13 percent of fixed-asset investment in Beijing in the period. Public transportation investment accounts for 75 percent of Beijing's total transportation infrastructure investment.

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The nation's money and credit data in July surprised the market, following gloomy industrial production data which also indicated weaker economic growth momentum at the beginning of the second half of this year.

The most important thing is training and further education. People must be prepared for the future. Only countries that invest in their citizens are going to be successful. China has seen a long process of persistent and rapid economic development. The challenges now are to adjust the industrial structure, as well as highlighting environmental issues. I am convinced, however, that the Chinese government will ring in a new era with the "green economy".

The most active crude oil contract for October 2020 delivery was down 2.8 yuan (41 US cents) to close at 292.7 yuan a barrel.

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The move signaled continued hard stance from the government following a tough financial clean-up in 2017.

The move is part of a broader trend in which China is gearing up to revamp its road delivery network with unmanned trucks. Self-driving truck companies Pony.ai and Fabu Technology－together with US firms including Embark and Waymo－are all gearing up efforts in the field.

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The nation's economic growth showed some signs of stabilization in the last quarter of 2019, as indicated by the investment and production indices.

The move will further complete the supervision system of property insurance products and encourage product innovation, sources with the CBIRC said.