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Previously, these companies could legally defer paying taxes on profits earned in other parts of the world at a rate of 35 percent, as long as those profits stay overseas. But now, they only need to pay a onetime transition tax on previously deferred repatriation of foreign earnings at discounted rates of 15.5 percent for liquid assets and 8 percent for illiquid assets.

President Xi Jinping, who is also general secretary of the CPC Central Committee, has said on various occasions that the Party's fundamental missions are to seek well-being for the people and realize the great rejuvenation of the Chinese nation.

Products from Beyond Meat Inc, the vegan burger maker, are shown for sale at a market in Encinitas, California, US, on June 5, 2019. [Photo/Agencies]

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Production of soybeans and oil plants will be expanded, he said.

Propelled by two engines, the airship will be capable of carrying 840 kilograms and will be able to stay airborne for 24 hours, Zhang said.

Profits at China's major industrial companies jumped 5.4 percent in November year-on-year to 593.91 billion yuan (.86 billion), ending three months of decline, according to the NBS. In the first 11 months of this year, the cumulative profits of major industrial companies declined 2.1 percent year-on-year.

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President-Elect Joe Biden called President Donald Trump's challenge of the Nov 3 election results "totally irresponsible" on Thursday as Trump's attorney Rudy Giuliani, in a nearly two-hour press conference, claimed there were election irregularities.

Prime Minister Chung Sye-kyun said such a step required careful review, as the government comes under mounting pressure to do more to stem the rise in infections.

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President of Uzbekistan Shavkat Mirziyoyev makes a speech during the ceremony for the Constitution Day of Uzbekistan marking the 26th anniversary of independence of Uzbekistan in Tashkent, Uzbekistan on December 7, 2018. [Photo/IC]

Privately owned company Shanghai Peng Xin Co Ltd said it was showing continued interest in investing in Brazil.