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The initiative, proposed by President Xi Jinping in 2013, covers the Silk Road Economic Belt and the 21st Century Maritime Silk Road, with the aim of creating a trade and infrastructure network to connect Asia with Europe and Africa along ancient trade routes.

The income tax will be about 800 yuan, nearly 75 percent lower than the amount of over 3,100 yuan before October.

The institute has also established eight research centers, covering the areas of solar power, Internet energy and energy policy, as well as the utilization of biomass energy, to create breakthroughs to further green the city.

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The industrial internet, a new type of manufacturing automation that combines advanced machines, internet-connected sensors and big data analysis, is expected to boost productivity and reduce costs in industrial production.

The interest-rate war will push up the cost of funding, but it’s expected that deposits at virtual banks in terms of total balances will be relatively minor, at 2 to 3 percent, at least in the short term, which will mitigate this particular pressure, the report said.

The impetus of the inquiry was a July 25 phone call between Trump and Ukrainian President Volodymyr Zelenskiy in which the president sought an investigation of former vice-president and 2020 Democratic presidential candidate Joe Biden and his son, Hunter, who served on the board of Burisma Holdings, a Ukrainian energy company that paid Hunter Biden tens of thousands of dollars to serve on its board.

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The idea has new momentum thanks to the 2020 US presidential race. Candidate and tech entrepreneur Andrew Yang advocates for ,000 monthly universal basic income for all American adults over the age of 18, regardless of one's work status or income. He argues that automation is causing the loss of millions of jobs in the US.

The influx of foreign investments has been growing significantly over the past decades in Shanghai. [Photo by Wang Jianhua / Xinhua]

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The injured are hospitalized.

The integration of the transport card in urban and rural areas in China is expected to be realized by 2020, the report said.