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Leung emphasized Alibaba's design core value of equal opportunity for people from all walks of lives: a 67-year old Chongqing street vendor acquired a personal QR code for 50 cents to conduct business.

Li Bo, director of the People's Bank of China's monetary policy department, said at a news conference last week that the current renminbi exchange rate is mainly determined by market supply and demand.

Li briefed attendees on economic development this year and introduced the CPC Central Committee's ideas on economic work for 2018.

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Li Daxiao, chief economist at Shenzhen-based Yingda Securities, said stocks of the new market may be overvalued as investors chased the small amount of listings on the new board, citing that the average price-to-earnings ratio, a common gauge of valuation, of the STAR Market has risen to more than 100.

Li attributed the company's fast growth in the past two years to its traffic entrance model, where it provides easy access to the internet for users and generates revenue from the traffic.

Letting enhanced unemployment benefits expire or even renewing them at a lower amount will be a "significant hit" to the US economy, said Mark Zandi, chief economist of Moody's Analytics.

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Li Kaifu, chairman and CEO of Sinovation Ventures, said Thursday that China may overtake the United States in several artificial intelligence segments in the next five years.

Less than one-third of Chinese urban households can install electric car chargers at home due to the lack of family-owed parking spaces.

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Li Qun is among the freshmen taking the course. "I'd never even seen snow before because my hometown is in Southeast China's Fujian province," said the 19-year-old, who is excited and proud to be learning to ski.

Li announced that China will host leaders from the 17 countries as part of the mechanism next year, five years after Suzhou, Jiangsu province, hosted the group in 2015.