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The company hires local employees who are responsible for signing contracts with farmers. In growing seasons, they sell seeds, fertilizers and pesticides on credit to growers, and then buy the cotton after harvest time.

The company has worked with over 450 local licensees and witnessed a double-digit growth in terms of the revenue from the licensed products sold in China. China is Disney' fastest growing market for licensed consumer products by revenue in the world.

The company's new Shanghai Gigafactory, on which work only started in January last year, delivered its first 15 Model 3 sedans on Dec 30, a move marking a major milestone in the manufacturer's global expansion efforts.

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The completed turnover of foreign contracted projects in B&R countries was .89 billion, down 4.4 percent from the same period last year, accounting for 54.7 percent of the country's total completed turnover of foreign contracted projects.

The company wishes to bring about a change in Chinese consumers' lifestyles with its innovative products, reliable quality and natural health philosophy, he told Chinese media during a recent weeklong visit to Shanghai, Beijing and Hangzhou, Zhejiang province.

The company said in 2017, the country's liquor industry entered a new round of growth. Distillers have tapped e-commerce retail channels to help boost sales. Moutai is eyeing a 15-percent growth in revenue this year.

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The company is currently building new processing facilities in the Xinjiang Uyghur autonomous region and in Yichang of Hubei province, and upgrading a factory in Hangzhou, Zhejiang province.

The company said that it will reduce capacity by letting fewer people enter its parks and all guests will be required to make advanced ticket purchases and reservations.

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The company said the loss was mainly due to mandatory closing of most theater networks caused by COVID-19. But with theaters given permission to reopen, IMAX China is confident in its future market performance.

The company's increasing use of the internet of things and its subsequent growth have managed to offset the impact of the sluggish garment retail sales in China on the sector's fortunes.