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The move is a significant measure to implement an innovation-driven development strategy and deepen the capital market reform.

The model is part of Porsche's 6 billion euro (.37 billion) investment in its global electrification campaign by 2022.

The move was aimed at expanding imports and boosting domestic consumption, with tax rates lowered for many daily consumer goods, the commission said.

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The nation will consider transferring State-owned assets into preferred stock and the State special share management system, a senior official said.

The model, powered by Qualcomm Inc's processor Snapdragon 845, comes with dual-cameras on the rear. It can automatically recognize 25 objects when consumers use it to take photos and it can adjust camera settings in accordance with different environments, the company claimed.

The move comes after GAMECO started operations of the first production line of 737-800 Boeing Converted Freighter (BCF) project in June this year.

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The moves worry rural broadband companies that use Huawei equipment that they will be forced to replace their equipment with other brands, which would be costly. According to a report by Fierce Wireless, trade association Rural Wireless Association estimated that Huawei equipment is used by 25 percent of US rural wireless carriers.

The nation's southernmost Hainan province will build a group of brand-name theme parks and other resorts, furthering its push to become an international tourism destination.

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The move will help in research and development, as well as educate and train the next generation of business professionals, technicians and creative talent.

The move comes as cloud-based office tools like videoconferencing and online training modules are gaining traction in China as white-collar workers engage in remote work to avoid the novel coronavirus epidemic.