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The author is senior research fellow and vice-director of the Institute of World Economics and Politics at the Chinese Academy of Social Sciences.

The bank will also launch a pilot program to set up entities that specialize in serving companies at manufacturing industrial clusters. By the end of June, the outstanding loan balance provided by ICBC to the manufacturing industry was 1.85 trillion yuan (4.1 billion), up 14 percent from the beginning of this year.

The bilateral relations have made continuous progress since the establishment of a comprehensive strategic partnership in June 2016. Zhang's visit will provide another opportunity to promote closer cooperation between the two countries.

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The author is assistant professor at the Department of Japanese Studies at the University of Hong Kong. The views do not necessarily reflect those of China Daily.

The average net profits attributable to shareholders of the 211 firms rose 14.68 percent year-on-year to 2.93 billion yuan, with 69 companies' growth exceeding 30 percent and 12 firms reporting doubled net profits year-on-year.

The average age of the companies ranked on the list is 38, and 29 percent is the average rate of return in the last three years and 14 percent of the Standard & Poor's 500 stock index in the same period.

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The association predicts that about 27.7 percent of Chinese people older than 15 years old smoke. The Healthy China 2030 initiative issued by the central government in October vows to cut the ratio to 20 percent before 2030.

The base, covering more than 13 hectares, is located in Hebei's Xianghe county and has joint investment totalling 350 million yuan ( million) from COFCO Coca-Cola Beverages and Tianjin Bohai Light Industry Group. After completion, it will have nine production lines and is expected to meet demand in the Beijing-Tianjin-Hebei region for the next 15 years.

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The benchmark CSI 300 index of Shanghai and Shenzhen listed stocks rose by 0.99 percent on Friday. It rose by 1.3 percent this week, following a 3.04 percent jump last week. The benchmark Shanghai Composite Index added 0.83 percent to 2895.34 points.

The author is a senior writer with China Daily.