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Conducted during September and October 2018, the survey presents the views of 176 executives based in the Chinese mainland and Hong Kong, covering financial services, technology, communications, and entertainment and media sectors. More than 80 percent of the mainland companies surveyed posted annual revenues between 1 million and billion.

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Compared to last year, the four first-tier cities saw 3.8 percent and 1.7 percent growth in their new and existing home prices on an annual basis.

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Compared with international sports powers such as the US, China's sports industry has huge potential to fuel the service sector, including ticketing, sports venue operation, fitness training and guidance, sports tourism and leisure, said Liu Fumin, director of GASC's sports economy department.