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Land sales in Beijing, Hangzhou and Shanghai broke the hundred-billion-yuan point,at 113 billion, 109.7 billion and 101.55 billion yuan, respectively.

Langhammer said that with its increasing international acceptance as a benevolent government, China will further take into account the interests of partner countries in decision-making.

Kroeber, who is also a senior nonresident fellow of the Brookings-Tsinghua Center in Beijing and the author of China's Economy: What Everyone Needs to Know, contended that individual Chinese companies will also be able to improve themselves through competitive pressure.

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Kweichow Moutai employees work on an assembly line in Renhuai, Guizhou province. [Photo by Yang Jun/China Daily]

LANZHOU -- Chinese political advisors held a meeting on Wednesday to pool wisdom on consolidating achievements in poverty alleviation for the 14th Five-Year Plan period from 2021 to 2025.

Lai Xiaomin, former chairman of the board of China Huarong Asset Management, pleaded guilty to accepting over 1.78 billion yuan (6 million) in bribes and being involved in other corruption and bigamy at his trial in Tianjin on Tuesday.

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Kong's interview was broadcast on the day Pyongyang and Seoul held working-level talks, following their high-level talks last week over issues including Pyongyang's participation in the 2018 Winter Olympics and improvement of ties.

LOS ANGELES -- Three people have been killed and four others injured in a shooting at the Gable House Bowl in the US coastal city of Torrance near Los Angeles, the Torrance Police Department said Saturday.

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Lai Xiaomin, former Party secretary and chairman of the board of Huarong Asset Management, has been arrested on the orders of the second branch of the People's Procuratorate of Tianjin Municipality.

Lam said the social unrest in Hong Kong over the past year gave people in the city a deeper understanding of the importance of national security.