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The ministry would carry out inspections of hidden risks in renovation and expansion of buildings and old houses, and further rectify industries such as hazardous chemicals, road transportation and urban gas to prevent all kinds of accidents, he added.

The move aims to encourage high-quality development, with a focus on supporting technologically advanced products and phasing out the uncompetitive ones, as the effect of scale is emerging and costs are falling, said the ministry.

The move came as the company disclosed that its average monthly revenue has hit 220 million yuan and has achieved profitability when customers bought their product for the first time.

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The most urgent need is for more investment in disaster-and climate-resilient infrastructure. According to an Asian Development Bank study, developing Asia will need to spend around trillion on infrastructure between 2016 and 2030.

The model Internet + Agriculture + Finance will be launched in dozens of villages in China to help alleviate poverty, achieve rural revitalization and achieve the sustainable development goals (SDGs).

The most popular gift items are expected to be clothing and accessories, purchased by 58 percent of those surveyed, followed by gift cards by 54 percent, toys bought by 39 percent, along with books, music, movies and video games purchased by 37 percent.

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The move will make Fosun the second largest shareholder of the country's largest beer manufacturer.

The move came after Huawei posted a 26 percent year-on-year growth in smartphone shipments in the first eight months of this year, despite the restrictions it faces from the United States government.

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The national action plan also stipulates other targets to promote improvements. By 2020, seven major rivers including the Yangtze and Yellow rivers must have 70 percent of their wate

The modern Chinese consumer is healthier, less materialistic and more partial to local brands than ever before, according to research from market analysts in the United Kingdom.