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"China's current brandy market is mainly dominated by foreign products," said Wang Qi, executive vice-chairman of CADA. Last year, China bought 24.4 million bottles of cognac, becoming the third-largest consumer of cognac in the world.

"Compulsory education should not only be free but, more importantly, free of exams," Yang said.

"Chinese customers are not buying PSA's romantic designs as they fail to meet the needs of Chinese consumers," said the sources.

"Creating icons is hugely important－if you can't see it, you can't be it－and now we have those athletes in place, we need to make sure people know about it. We're in a really good place at creating inspiration for our nation."

"China represents a tremendous opportunity, given its significant market size, abundance of unmet clinical needs and active entrepreneurship landscape. Establishment of this Medtronic med-tech innovation accelerator forms another bold step to continue to advance innovation through collaboration," said Omar Ishrak, Medtronic chairman and CEO.