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The rule will oblige banks to reduce reliance on interbank business and channel more capital into the real economy, the commission said.

The reserve director attributed the good news to the government's emphasis on protecting the ecosystem and local residents' efforts to preserve the natural panda habitat over many years.

The results stand in stark contrast to pre-election polls, which had predicted centre-left Labor would win.

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The research was jointly conducted by the Institute of Geographic Sciences and Natural Resources Research of Chinese Academy of Sciences, the University of Sydney, the University of Hong Kong and Beijing Jiaotong University.

The rise in CPI is mainly caused by food price rises due to seasonal factors and natural disasters, such as extreme weather, which pushed up vegetable prices, the bureau said in a statement.

The rise of e-commerce has brightened the allure of the digital medium, said Iris Chin, general manager of media agency MediaCom China. The country is a hub for digital innovation, given the massive contributions by the Tech Trinity, or BAT, a phrase that refers to Baidu, Alibaba and Tencent.

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The rules also forbid insurance companies selling health insurance products from making tie-in-sales mandatory.

The sales revenue of big data industry in Hunan is expected to surpass 100 billion yuan by 2021, with a compound annual growth rate of over 30 percent in the next three years, according to the local authority.

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The report, released by US-based venture capital database CB Insights, said that AI startups worldwide raised more than .2 billion in 2017, up 141 percent from 2016. China's AI startups accounted for nearly 50 percent of the global funding, up from 11.3 percent of the total in 2016. The US was ranked second with 38 percent.

The reporters will tour some of Jinan's most famous scenic spots, including Baotu Spring and Mingfucheng Historical Area, and visit the headquarters of some of the city's leading companies, including Sinotruck and Jinan International Center for Medical Sciences.