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Robin Shattock, head of mucosal infection and immunity at Imperial College London, said he has managed to cut the time to get to clinic from "two to three years to just 14 days".

Restaurateurs expressed relief at the news.

Roland Berger CEO sees rapid growth of several industries, emerging fields

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Retailers also fell sharply. Target plunged 10.5 percent after reporting weak results. Victoria's Secret parent company L Brands fell 17.7 percent.

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Roach, who is the former chairman of Morgan Stanley Asia, added that "the long-term opportunities for China remain very promising."

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Rudy Kiryl, Belarusian Ambassador to China, recently shared his views with China Daily on the two sides' mutually beneficial cooperation under the framework of the Belt and Road Initiative. [Photo/chinadaily.com.cn]

Retail sales climbed 8.8 percent in July from a year earlier, slightly down from the 9-percent rise registered in June.

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Results show that some 64 percent of respondents on the mainland bought luxury goods locally during the past 12 months. For the first time, Japan overtook Hong Kong as the preferred travel destination for Chinese mainland luxury consumers during the past 12 months.

Revenue from China Telecommunications Corp Ltd, which is also known as China Telecom, also increased during the period by 3.6 percent to 285 billion yuan, while its net profit rose 2.7 percent to 19 billion yuan.