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The two central departments also capped the personal income tax rate at 15 percent for individuals with high-level and in-demand expertise working in Hainan, a move that analysts say will help draw a much-desired, talented workforce to Hainan.

The two nations then formed the UK-China Infrastructure Alliance, along with an associated government-backed academy at University College London.

The two countries should ramp up coordination and communication in key international and regional issues, including the Korean Peninsula nuclear crisis, Yang sai and properly manage their differences and sensitive issues to ensure bilateral relations yield more positive outcomes, Yang said.

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The two sides exchanged views on expanding economic and trade cooperation, and strengthening communication and exchanges between local governments and organizations for international trade promotion.

The two presidents signed a joint declaration to upgrade the bilateral relationship to comprehensive strategic partnership.

The two women chatter away about this and that as the two young rascals cause mayhem in the already noisy restaurant, running to and fro, this way and that, between and around tables.

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The two sides also discussed how to facilitate expanding tourism activities, including visa and air flights.

The typical labor-intensive iron and steel industry is undergoing new transformations thanks to the commercialization of 5G and other cutting-edge technologies.

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The traditional TV market is almost saturated and companies need to seek new growth points, said Dong Min, vice-president of AVC. New display technologies such as OLED TVs, curved screen TVs and screenless TVs are all good choices, he added.

The two did not disclose the expected growth target for the five-year term.