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The continuous heavy rain has caused natural disasters including landslides and flooding.

The country has been stepping up efforts in recent years to offer foreign investors wider access into the domestic financial market. The Shanghai-Hong Kong bond connect program was approved in May this year, which allows investors from both sides to trade bonds on each other's interbank markets.

The conservative estimate seems to be gaining an upper hand after an autonomous Uber car killed a woman in the United States last month when she walked her bicycle across the street. It was the first fatal crash involving a self-driving car being tested.

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The country is working toward the full implementation of the "pre-establishment national treatment plus negative list" management system for foreign investment, said Yi Gang, governor of the People's Bank of China, in a speech via video link at the second Bund Summit in Shanghai.

The council said it met with senior executives of the company in September to ask for a correction to the policy, but its request was declined.

The conference got underway with opening remarks from representatives of the two co-organizers — China Daily and the Silk Road Economic Development Research Center.

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The country categorizes its roads into five tiers in terms of traffic volume, with expressway being the top class, followed by first-class, second-class, third-class and fourth-class roads.

The contingent constitutes the first batch of a 700-member peacekeeping infantry battalion dispatched by China.

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The country will increase imports and cut import tariffs on some products to promote balanced trade, it said.

The continued emphasis on developing the rental market has heralded a wave of new entrants eager to capture a share of the segment.