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He takes comfort in knowing that his daughter, Yuan Yixuan - currently a PhD student at Beijing's Tsinghua University - fully supports his work.

He tasted success in the family business with his younger brother Derrick Pang last year. He was subsequently named chairman and executive director in charge of property development, while his brother became deputy chairman heading up the construction division.

He said that, based on changes in the circumstances, the country has adopted a new development pattern with the domestic economic cycle as the mainstay and the domestic and international economic cycles complementing each other. The strategic choice helps reshape China's strength in international cooperation and competition, Xi said.

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He said the site will be free to medical workers throughout the country, to give them thanks for their contributions to fighting against the novel coronavirus epidemic.

He said the snacks business is set to boom. Most of the young consumers have sufficient money these days to buy more products.

He was later admitted to the district's Communist Party of China committee and then moved up through the ranks.

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He was born in Shanghai, but his parents moved to Ma'anshan when he was 6. His father, who had retired from the army, was chief of staff of the administration in the steel company, and his mother worked in the management office.

He said the government may remove the current 49 percent foreign cap on securities companies, but it is not likely in the short run because much needs to be done to strengthen financial supervision to deal with possible external risks.

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He was attracted by the beautiful landscapes in Dali and an old compound having distinctive features of the Bai ethnic group. The compound was built in 1948 and once belonged to the family of businessman Yang Pinxiang, a trader who had gained great wealth in the early 1900s. The property had fallen into disrepair, though it was put under national protection in 2001.

He said the Belt and Road Initiative - an umbrella term for the Silk Road Economic Belt and the 21st Century Maritime Silk Road - will result in land and sea routes that will connect countries in Asia, the Middle East, Africa and Europe.