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The combined company will be based in Canada, becoming the largest online footwear company in the country. It will continue to operate offices in Seattle, with much of the management team remaining intact.

The commercial property sector is also suffering — with berth owners reducing their asking prices by as much as over 40 percent to make a sale.

The company believes that its light-asset strategy which focuses on R&D, design, sales and after sales, and integrating manufacturing resources will alleviate the typical financial pressures in the new energy vehicles industry.

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The combination of the bricks and clicks world is getting a bit more interesting. Google today announced that it is buying Waterloo, Ontario-based BufferBox, a 21-month-old Canadian company that allows parcels to be shipped to pick-up stations.

The collective wealth of the top 50 female entrepreneurs on the list was 1.3 trillion yuan, while average wealth rose 25 percent year-on-year to 26.9 billion yuan, a fourfold increase from 10 years ago.

The company has been holding intensive training sessions for African entrepreneurs on e-commerce innovations in recent years－for example, its Global E-commerce Talent program for university teachers, which was launched by the company's business school in Rwanda last month. It was the first time the program had been offered in Africa.

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The committee also includes members of the Legislative Assembly of Macao, Macao deputies to the National People's Congress and members of the National Committee of the Chinese People's Political Consultative Conference, and members of local departments and organizations.

The companies said they hope the agreement will move the industry forward by protecting copyrights and encouraging more musicians and songwriters to come up with original and high-quality products.

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The committee reviewed and passed a plan to launch a science and technology innovation board at the Shanghai Stock Exchange and experiment with a registration-based system for initial public offerings, measures announced by Xi at the opening of the China International Import Expo in November.

The combined company will have more than 250 employees, and annual revenues of 6 million. It will offer more than 350 shoe brands, and over 35,000 shoes.