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The remoteness and administrative complexity meant the village was poor, but thanks to poverty-alleviation efforts by the two counties, the number of impoverished families has fallen from 92 in 2016 to four.

The regulator has vowed to continue its tough stance against all violations to better serve the real economy.

The report said that last year the electronics manufacturing sector continued to support the country's industrial growth with its value-added output expanding 10 percent year-on-year.

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The report defines billionaires as those with a net worth of more than billion.

The report also warns there is likely to be significant disruption to existing business models in all parts of the economy, as already seen in sectors like media, entertainment, finance and retail.

The report is the eighth book on new media released by the academy. It also discusses research on the integration of China's media, online live broadcasts and internet security.

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The report describes certain aspects of the Chinese economy, focusing on the country's macro-economy, the main production factors used in all manufacturing processes, and certain sectors of the economy, including steel and ceramics.

The renminbi Internationalization Report 2017, written by the International Monetary Institute at Renmin University of China, said the country must maximize the dividends of the renminbi joining the Special Drawing Rights, deepen domestic financial reform and strive to improve the international financial pricing and transaction functions of the currency.

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The region rolled out preferential policies to encourage labor-intensive enterprises in the four prefectures of southern Xinjiang to recruit local employees.

The report showed 75 percent said they were "in controllable anxiety," 25 percent were "stressed," while 6 percent were "extremely anxious."