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Shared interests between Germany and China have become more prominent because of the change in the international situation and the rise of unilateralism, Cui said, adding that the visit may contribute to turning such interests into "common action".

Shanghai-based China Eastern Airlines signed a 10.13 billion yuan (.44 billion) agreement with Rolls-Royce for Trent XWB engine and long-term maintenance services on Nov 6.

Shao said sales of at least 17 branches would surpass 10 billion yuan in the next three years.

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Shares of smaller US suppliers, which are more dependent on ZTE, pared losses after the news, including optical component makers Acacia Communications Inc, Oclaro Inc and Lumentum Holdings Inc.

Several prominent pension fund of funds providers, such as HuaAn Funds and Bosera Funds, have publicly highlighted the use of passive funds, including ETFs, for portfolio construction, due to high efficiency and low transaction costs, the report said.

Shanghai-based market tracker Wind Info said A-share listed financial service providers reported the strongest daily increase of 4.21 percent on average, followed by commercial banks, which reported an average daily rise of 2.91 percent on Monday.

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Shanghai Electric will be responsible for the construction and a wholly-owned subsidiary of ACWA Power will be in charge of the operation of the project.

Shanghai has upgraded two of its six export processing zones to comprehensive bonded zones in response to the country's latest efforts to further open up and shift its export-oriented development model.

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Several ministry-level departments are also making preparations.

Shanghai-based market tracker Financial China Information & Technology showed that the total value of defaulted bonds rose from 117.8 billion yuan in 2019 to 138.3 billion yuan this year. Downward economic pressure and companies' operational difficulties due to COVID-19 were the major reasons for the increase, said analysts from the Bank of China Research Institute.