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Initiated in 2015, the reform has focused on five fronts: pruning overcapacity, clearing up the large inventory of unsold homes, curbing debt levels, lowering business costs and tackling weak links. It has yielded the desired results, promoted economic restructuring, and stabilized growth in China.

Initiated by industrial, commercial and legal service institutions from more than 40 countries and regions, the new organization aims to provide diversified services including dispute prevention and settlement for international commercial entities.

Introduced in 2015, the "Made in China 2025" plan was designed to upgrade the country's manufacturing industry. The 10-year national plan aims to promote development in 10 key sectors, including robotics, aerospace equipment and new materials.

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Insiders believe while foreign players' share is expected to see an increase in the upcoming years, especially a higher market share providing high-end products and value-added services, the fuel retailing sector in the country, which is currently dominated by State-owned oil and gas majors, would still remain unchanged in the short term.

International politics is a lot about guarding self-benefits. However, global peace and mutual prosperity cannot be achieved under de facto anarchic international circumstances.

Instagram, Vine stop working at same time; people use Twitter to freak out (6 comments, 125 Facebook likes)

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Innovation in financing for intellectual property was another major achievement in Hainan after the island province issued the country's first IP asset securities late last year with plans to raise 470 million yuan (.5 million) of funds.

Innovation-driven development should be strengthened along with the efforts to break through in key and cutting-edge technologies, Li said. Business startups and entrepreneurship should be promoted continuously to cultivate new drivers of the economy, transform traditional industries and expand employment, he said.

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Intelligent e-govt services helping South China hub provide essential medical services, assist businesses with economic revival measures

Intelligent connected vehicles get ready for various tests at the Shanghai Lingang Autonomous and Informationalized Vehicle Integrative Testing and Demonstration Zone on Aug 23. [Photo by Fang Zhe / Xinhua]