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The measures include the visitors' undergoing a swab test and presenting an itinerary. The two countries also agreed to announce the requirements, health protocols and application process involved for entry and exit into Malaysia and Singapore this month.

The ministry plans to issue specific guidance to improve policies for export tax rebates. In addition, details of special expense deductions for individual income tax are being studied, said Yuan Haiyao, deputy head of the ministry's Department of Tax and Policy.

The ministry reported on Thursday that last month, the nation's general public budgetary income decreased by 10 percent from a year earlier, with a decline in the tax income by 7.2 percent.

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The measures will not only help banks increase their presence in China but are a boon to many other foreign businesses, analysts said.

The miner has expanded out from its sandpaper roots to produce a wide range of materials, including industrial tapes and adhesives, healthcare, safety and graphics, and electronic products.

The ministry will step up efforts to strengthen the quality and management of highway and waterway projects in a bid to better protect people's safety, according to Wu Chungeng, spokesman for the ministry.

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The migration comes as Amazon and other tech companies are under increased scrutiny for their relationship with governments. Civil rights groups, AI researchers, employees, and shareholders have called for Amazon to stop selling its facial recognition software to law enforcement agencies.

The meeting was jointly organized by the Foreign Economic Cooperation Center under the Ministry of Agriculture and Rural Affairs, the Hainan Provincial Department of Agriculture, the Chinese Academy of Tropical Agricultural Sciences and the People's Government of Qionghai Municipality.

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The market's rapid development has also been boosted by investment, as venture capital firms rushed to back the asset-light operations of some major rental companies in recent years, the report said.

The mature capital market in Hong Kong will also provide cash-starved tech firms on the Chinese mainland with various financing channels.