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Ma also refuted rumors he was forced to step down. "It is not an unexpected decision, but a prudent one I have prepared for 10 years," Ma said. The chairman also joked he doesn't want to retire 10 years later, when he is 64 years old. "That would be torture to the youngsters," he said.

Ma Shicong, a new media analyst at consultancy Analysys, said Southeast Asia is a gold mine for Chinese short video apps, thanks to a massive number of local young people who are eager to exploit the era of mobile internet.

Major overseas projects bring mutual benefits. By the end of last month, Chinese companies had created 813,000 jobs for host countries and regions, the ministry added.

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Mamau said he is “confident that this partnership will bring benefits to the people of Kiribati,” he said, adding that the decision is in line with the fundamental and long-term interests of Kiribati and its people.

Macao SAR obtains six substantial effectiveness ratings among 11 effectiveness outcomes, which ranks it among the higher tier of APG members that have been recently evaluated. There are also three moderate effectiveness ratings and only two low effectiveness ratings, according to the report.

Manchanda holds that it would be useful for Chinese automakers to "look at case studies of the Korean car brands in the US over the last 20 years." "They started from a similar position and now they are solid players."

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Major Uruguay export commodities to China include beef, dairy products, fish, wood, timber products, soybeans, wool , textiles and semi-precious stones.

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Malpass, an economist and former Trump campaign adviser, served as a deputy secretary at the State Department under George HW Bush and chief economist at Bear Stearns Cos, the report said, noting he is "one of the administration's more prominent voices on international economic matters."

Major overseas engineering projects increased in the first 10 months. The total contract value of newly signed overseas projects came in at 1.16 trillion yuan for the January-October period, down 4.4 percent year-on-year.