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Last year, the top 500 manufacturing companies achieved total net profit of 976.7 billion yuan, up 19.44 percent year-on-year. The net asset profit margin stood at 10.48 percent, which was 1.25 percentage points higher than the previous year, the report said.

Leaders of four non-communist parties and the All-China Federation of Industry & Commerce and a representative of people without party affiliation addressed the seminar about their studies on rural development, according to a statement issued after the meeting.

Led by Xi, the PLA has been advancing reform and technological upgrade and boosting training and combat readiness, Chang said.

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Launched in 2012, the tea maker, which focuses on a luxury retail experience at high-end shopping centers, has expanded quickly to more than 600 franchise stores and is available at 5,000 other retail stores in the country.

Lee has dismissed the investigation into him as "political revenge".

Laws, rules, and policies out of tune with the overall direction and principle of opening up should be abolished or revised within a time limit, and national treatment in laws and policies should be granted to foreign-funded companies after they enter the market, the president said.

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Leaders' influence

Lau Siu-kai, vice-president of the Chinese Association of Hong Kong and Macao Studies, thinks the opposition camps, as part of their political agenda, will pressure the Court of Final Appeal to rule the mask ban unconstitutional.

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Lee was elected to his own term in 2011 and re-elected in 2015.

Lawrence Yun, chief economist for the NAR, said the downturn was expected, as people stayed home during the coronavirus outbreak and the economy sank, but he expects the market to rebound.