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The author is head of Asian economic research and chief China economist with UBS. This is an excerpt from the 2019 outlook report of UBS.

The balance of the bank's nonperforming loans stood at 77.29 billion yuan at the end of June, representing an increase of 11.17 billion yuan from the end of last year. Its NPL ratio was 1.83 percent, up by 0.18 percentage points.

The ban was scrapped in April last year after the Hong Kong Stock Exchange launched its biggest listing reform in 25 years, a move that paved the way for companies like Alibaba to go public in Hong Kong.

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The behaviors of the ethnic Chinese, who make up around one eighth of Prato's population according to data on the city governmental website, stood out.

The authority has predicted that this year's target to create 11 million jobs will be reached soon.

The attendees also heard a report on the implementation of key proposals this year, and reviewed and approved the draft agenda and schedule of the 10th meeting of the Standing Committee of the 13th CPPCC National Committee.

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The authorities have cordoned off the area to clean it up. The collision has caused heavy traffic delays.

The association said on Tuesday that the occupancy rate has dropped from 90 percent to less than 30 percent since the protests broke out three months ago.

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The ban covers light and ultralight airplanes, gliders, delta-wing airplanes, hot air balloons, airships, paragliders, drones, model airplanes, unmanned free balloons and captive balloons.

The association expects 1 million new energy vehicles to be sold this year.