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Shi Qi, vice-director of the China Population Communication Center gives a speech at the launch event for the 2019 Defectless Baby Program on September 5, 2019. [Photo provided to chinadaily.com.cn]

Since Alibaba also joined fundraising for Ofo, Hans Tung, a managing partner at GGV Capital, said to the newspaper if one investor has invested in two firms, it will facilitate a merger to scale down the top three players into two.

Since 2016, more than three-quarters of newly listed companies in China were high-tech firms.

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Similar trends are expected in the United States and the European Union, though the growth rate over the same period will be a little bit lower than in China, according to the report.

Since 2015, the gang had made 50 million yuan from transactions worth of more than 100 million yuan, with victims spread across the country.

Since 2017, the shadow banking sector has shrunk rapidly, with a deleveraging State-owned enterprises sector.

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Shenzhen started to offer startup grants in 2001. The local government has allocated startup grants to 947 firms set up by overseas returnees so far.

Shu, 34, has been compared to Elon Musk, the founder of SpaceX, the private space technology company in the United States. After thoroughly researching many parts of China, he decided to work with Chongqing Liangjiang Aviation and Aerospace Industrial Park in the new area to solve the financing problem.

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Simba is a 2-year-old half-Shitzu, half-Bordie Collie.

Shi Jinyou, deputy governor of the prefecture, said the park will cover a total area of 265,000 square meters after three phases of construction.