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Yunnan also decreased production of crude steel and coal, and lowered costs for local companies.

Yumeijing is looking to further strengthen its R&D in fresh milk and herbal skin care products, according to Shi Bin, the group's president. He said the core focus will, however, be on fresh milk-based skin care products.

Yu will remain as the chairman of the Shenzhen-based property giant, which was founded by Wang Shi.

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Yu'E Bao, one of China's most popular internet-based funds, had amassed 1.43 trillion yuan (0.5 billion) of assets under management by the end of June, which has already exceeded the size of individual deposits at some of China's largest banks.

Yi also vowed to attract more high-quality firms to go public, mainly by pushing ahead the registration-based initial public offering mechanism not only for the upcoming science and technology innovation board, but existing submarkets too.

Youyu now has 12 sea buckthorn processing factories. Ren Lidong, general manager of Lantian Sea Buckthorn Development, said it had planted sea buckthorns and collected wild berries from local pickers.

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Young people in China and France should build a bridge between Chinese and French cultures to further develop the friendship between the two countries, said Peng Liyuan, the wife of President Xi Jinping, in Shanghai on Tuesday.

Yun also posted the love stories of the couples who tied the knot through his matchmaking as well as the information of singles eager to find their soul mates in the bus.

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Yi, who is also head of the Office of the Financial Stability and Development Committee under the State Council, highlighted the need to facilitate reduction of the real lending rate, using the newly-introduced loan prime rate as a guide to transform the loan pricing system.

Yu said the niche market for plant-based protein beverages is set to boom as major dairy giants, overseas brands and emerging labels are investing in the sector. "Consumers of plant-based milk in China are a broad category, but emerging brands mainly target the urban young middle-income group, who value a healthier lifestyle and cultivate good tastes."