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The comments came after the State-owned Assets Supervision and Administration Commission said that the total net profit of China's central SOEs dropped by 58.8 percent on a yearly basis to 130.4 billion yuan (.44 billion) during the first three months of this year, while the total operating revenue fell 11.8 percent on a yearly basis to 6 trillion yuan in the same period.

The companies will be allowed to raise up to 6 billion yuan (0 million), China Securities Regulatory Commission (CSRC) said in a statement Friday.

The commission will make further revisions and improvements according to public feedback before it is formally implemented.

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The commander of the rescue work said the Lao army dispatched two planes, three helicopters, 10 boats and dinghies for the rescue work along with other vehicles from other rescue forces. They would reinforce some 100 personnel to five most severely affected villages to search for those who are still missing.

The company has nearly 100 stores in various provinces and municipalities, including Beijing and Hubei province in the north, and Guangzhou, capital of Guangdong province, in the south.

The clean governance and anti-corruption move will be strengthened to avoid corruption risks, improve trust of justice, and safeguard fairness, the statement said.

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The company has set up a branch in Xi'an. It is planning to open clinics in capitals of provinces like Henan, Hubei and Hebei.

The company has employed a strategy of switching the brand essence from automobile to lifestyle, and announced its refreshed brand slogan "Experience Amazing" this year.

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The commission issued the country's first three autonomous driving road test licenses to smart car manufacturers in March, with two licenses going to Shanghai-based SAIC Motor, and electric vehicle startup Nio receiving the other.

The company has plans to reach 4,500 stores in the country by 2020 and this year is on track to add 430 new stores. The company continues to penetrate to lower-tier cities, with more than 50 percent of new stores located in third-tier cities, said Cheung. New stores in larger cities are inclined to be smaller, about 250 square meters, she added.