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The report noted that Davis' remarks came as major testing companies "are already struggling to keep up with demand at a time when 5.5 million tests are being conducted each week."

The renewed risk appetite among investors and improved liquidity situation after the holiday also contributed to short-term rally of A-shares, according to Chen Guo, an equity strategist at Essence Securities Co Ltd.

The relay is led by eight staff athletes from Standard Chartered selected from its Asia, Africa, Middle East, Europe and the Americas offices. The project kicked off in China's Hong Kong Special Administrative Region on Feb 17 and will end in a Chinese mainland city on May 11 following the Belt and Road Forum. The athletes are expected to run across 44 markets within a 90-day period.

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The report says South Asia will remain the fastest growing of all subregions in Asia and the Pacific, despite a downward revision from previous projections from 6.7 percent to 6.5 percent in 2017, and is expected to pick up to 7 percent in 2018. GDP growth in India, the subregion's largest economy, is revised down to 6.7 percent in 2017 and 7.3 percent in 2018.

The report also suggests closer cooperation with local charitable organizations for a smoother communication process and more efficient CSR operations. It also calls for an evaluation system of central SOEs overseas CSR performance from the State-owned Assets Supervision and Administration Commission of the State Council (SASAC), the country's regulator for SOEs.

The report said that the spending on subsidies for medical insurance registered an average annual growth of 10.6 percent from 2013 to 2017.

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The report found that the solely online retail platforms are reaching their ceiling, but the full potential of the digital retail sector has not yet been fulfilled.

The renminbi exchange rate will be more flexible, basically determined by the market's supply and demand situation, a senior official with the State Administration of Foreign Exchange (SAFE) said on Wednesday.

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The report said local government subsidies to stimulate the consumption of home appliances will promote development of the air conditioner industry. Moreover, adjustment of industry structure will test the supply chain management ability of air conditioner enterprises.

The report focused on 41 countries taking part in the initiative to evaluate and analyze these countries' trade, investment development and future trends from four dimensions: scale, facilitation, risks and potential during 2012-2017.