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The move is the latest demonstration of Hema's buyer model, which was publicly announced by CEO Hou Yi two weeks ago, where professional procurers are responsible for sourcing and hand-picking the right goods to sell. The company now owns 40 stock keeping units under its indigenous seafood program called Difresco.

The municipal government of Shanghai has rolled out a number of measures to salvage export-driven companies whose business has been hammered by shrinking overseas demand due to the COVID-19 pandemic.

The move comes close on the heels of a similar cooperation agreement inked by the Chinese think tank with Operador Nacional do Sistema Eletrico (ONS), Brazil's national grid operator, last June. Under the agreement, SEPRI has offered two technical training sessions for ONS staff on HVDC technology, in last November and this April respectively.

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The move is expected to quickly boost its fast food presence along the country's vast highway network and further diversify non-fuel services at gas station chains.

The move is part of broader efforts by Chinese companies to leverage their technological prowess to help foreign nations in the global battle against the pandemic, as confirmed cases around the world rise dramatically.

The momentum created by the Belt and Road Initiative could be an opportunity, Ferro said.

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The move follows rising popularity of livestreaming and short videos among the millennials.

The modernization of six Tu-95MS strategic bombers should be completed next year, Shoigu added.

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The nation will continue to promote economic and social development, as well as control and prevent the spread of the COVID-19 epidemic, with stronger counter-cyclical measures and more proactive fiscal actions, said Liu, reported by the Ministry of Finance on Tuesday.

The multicolored Guirui Theater, shaped like a butterfly, is expected to be completed in early April. It will be used for the opening and closing ceremonies of the upcoming horticulture expo. [Photo/Xinhua]