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Stoking a new "Cold War" is past its time, Wang said, adding that there is no market for forming little blocs and inciting confrontation.

Still there are 995,933 active COVID-19 cases in the country, while 3,942,360 people have been successfully cured and discharged from hospitals across the country.

Stocks in the software and information technology services led the gains, with shares of the software developer Shanghai Wondertek Software Co Ltd surging by the daily limit of 10 percent to 18.67 yuan.

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Stevens said the gap between the growth rates in China and the US has not been as wide since the start of the past decade, when China was still enjoying double-digit economic growth.

Steve Herrod, VMWare CTO

Subcommittee on Regulatory Reform,

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Still, just 17 percent of its total revenue in 2017 came from advertising, compared with Facebook's roughly 98 percent, leaving huge potential for growth, experts said.

Such problems could potentially have been alleviated by a stronger and more economical network, something that the Chinese vendors the government had banned could have provided.

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Subscription services revenue, which includes Prime memberships, came in at .2 billion, up 32 percent.

Su Jia, president of CMC Pictures, pointed out that the Chinese film industry is still at its embryonic phase, which will pave the way into the North American market.