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Gates are closed at some national parks, the government won't issue new federal flood insurance policies, new farm loans will be put on hold beginning next week, and in New York, the chief judge of Manhattan federal courts suspended work on civil cases involving US government lawyers, including several civil lawsuits in which Trump himself is a defendant.

Gilligan said its members agree that the epidemic has generated a tremendous impact on business across the world's largest economies and cooperation is "absolutely necessary at this time, with no time for spats".

Global companies, including those from the United States, will keep tapping the lucrative market in China by teaming up with key industry players in the world's second-largest economy.

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Generation Z consumers in China account for 15 percent of their household expenditures, in comparison with the 5 percent in France and 4 percent in the United States, said the report which was released at the China Automotive New Consumption Forum.

Given the tougher cooling measures, analysts predicted that home prices will continue to cool in coming months and there will be more intensified policies due to price rises in some third-tier cities.

Giant panda Ying Xue is released into Liziping Nature Reserve in Southwest China's Sichuan province on Nov 23, 2017. [Photo/VCG]

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Gasoline consumption increased by 5.9 percent and aviation kerosene consumption by 10.8 percent, indicating strong demand for business and tourism travel. Diesel consumption grew by 6.1 percent, continuing a sustained recovery since last year, showing a rebound in demand for oil in industries such as infrastructure construction, transportation and logistics, and industrial production.

GeekWire Radio: Tech jobs, Bill Nye, Microsoft vs. Apple and a GeekGirlCon preview

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Gary Rosen, chairman and chief operating officer for China operations of Paris-based AccorHotels Group, said the Chinese market has been the fastest-growing for inbound and outbound tourism over the past 10 years. AccorHotels owns, manages, and franchises more than 4,600 hotels and properties worldwide.

Gary Hufbauer, a senior fellow and trade expert at the Peterson Institute for International Economics in Washington, said the FDRA letter will add to the pressure on Trump to reach a deal with China.