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Zou Liang, vice-president of Alipay Business Unit at Ant Financial, said that sales surged by an average 41 percent per client year-on-year from 2015 to 2016 after a number of retailers adopted Huabei, or Ant Check Later, a loan and installment service.

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Zhu made the remarks on Saturday at a seminar hosted by the National Association of American Studies (NAAS), a newly established alliance of more than 20 Chinese think tanks. The think tank alliance, initiated by the International Economics and Finance Institute under the Ministry of Finance, will especially focus on research related to trade and economic issues.

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Zhu Fenglian, a spokeswoman for the Taiwan Affairs Office, strongly condemned the passing of a law on the island on Tuesday that may criminalize many people involved in cross-Straits exchanges.

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[Photo/Screenshot of CCTV news]

Zhou said the power station had earned Shaping Village 280,000 yuan in income.