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The companies recently chose surgeon and author Dr. Atul Gawande to lead the venture. He will now be tasked with “fixing” the healthcare system.

The commission said they have built a "credit image" for each enterprise using a credit database and big data. The image displays the credit scores of enterprises, as well as their business condition, development and social effects.

The company has signed a framework agreement with Deutsche Bahn to export 20 hybrid shunting locomotives. They have also signed deals to export first batch of four locomotives.

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The comments came after the State Council rolled out a set of policies on Tuesday, including tax breaks and financing support, to buoy the growth of the integrated circuit and software sectors. The State Council said chip companies of all ownership types, including foreign enterprises, that set up in China can benefit from the new policy incentives.

The combined effect of a rising dollar and higher borrowing costs has pared demand in key emerging market economies and made investors shun risky assets aligned with the global economy, including crude oil and equities.

The combined industrial revenue reached 915.3 billion yuan (about 4.36 billion) during the period, up 3.1 percent year on year, according to the Ministry of Industry and Information Technology.

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The cocoons are taken to the factories in the township to be broken down and processed into silk. Hengsheng Silk has 10 production lines to break the cocoons into silk lines. They can process more than 2,000 metric tons of cocoons each year, and the silk they produce is popular in Europe and South Asia.

The company has launched three car models that made a splash in the industry: the pure electric supercar NIO EP9, the autonomous electric concept car NIO EVE, and the first volume model NIO ES8 SUV.

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The commission was established in 2002 to serve as a strategic platform to address issues of common interest such as trade promotion and economic exchange, according to Xinhua News Agency.

The company currently has 50 employees in Tucson and about 100 in San Diego.