Nathan Blecharczyk: China is already one of the leaders in the global internet arena and sharing economy.
New growth drivers also emerged. Companies in the artificial intelligence (AI) sector reported strong performance in H1, with half of them posting a rise of over 30 percent in net profits attributable to equity holders.
Neil Wang, president of consulting firm Frost & Sullivan China, said that although a large number of online education companies are still losing money, the emphasis of education by Chinese parents and the huge amount of netizens still give the industry considerable room for growth.
Never interested in schoolwork, Nie took up administration management as his major at college and started to do business in his sophomore year with friends.
Nearly 26 metric tons of food that would have been destined for landfills in the past three years in Guangzhou, Guangdong province, have instead been used to feed more than 10,000 people thanks to a local food bank.
New economic sectors
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Net profits climbed 26 percent year-on-year to 730 million yuan, registering a gross profit rate of 25.6 percent, said the company.
Naturally, the response delighted Chen Yidan, co-founder of Tencent.
Net profits from January to March jumped 61 percent to hit 23.3 billion yuan (.65 billion), as the gaming to social media conglomerate dispelled investors’ fears of lower margins and increasing costs incurred by a series of acquisitions.
National legislators began the second reading of the widely-watched draft biosecurity law on Sunday, which will require a monitoring and early warning system to prevent and control major new outbreaks of epidemics among humans, animals, and plants.