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As the sector becomes established, authorities are cutting subsidies and shifting the money to areas such as research and development and building charging facilities, said Song Qiuling, a senior official at the Ministry of Finance.

As the epidemic's impact continued to trouble the industry, Wang started to bet heavily on his side-businesses like a gym and a library. He opened new business lines like livestreaming and online shopping.

As the old Chinese expression goes, it's like killing a chicken to terrify the monkeys; in other words, it's small enough to jail, too big to fail, Sung added.

As socialism with Chinese characteristics has entered a new era, multi-party cooperation should take on a new look, Xi said, urging non-Communist parties and personages to improve their ideological consensus with the CPC and make new achievements in performing their duties.

As the business grew in the country, Chasun reached an agreement with the local government to invest 1.76 billion yuan (0 million) to expand its prawn farm and the processing plant.