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China Unicom, the country’s second-largest mobile carrier by subscribers, teamed up with Alibaba Group Holding Ltd on Wednesday to sell its non-performing assets on the latter’s online auction platform.

China Development Bank (CDB), the world's largest development finance institution, is the independent lead underwriter for the Xiongan-bond.

China International Capital Corporation Limited said in a research note the partnership between China Unicom and China Telecom will significantly relieve the financial pressure on the two companies. The acceleration of the 5G rollout will also bring benefits to telecom equipment makers such as Huawei Technologies Co and ZTE Corp.

China Post decided to start an emergency program to send out those parcels via Youxinou International Railway instead of mailing them by air from Beijing, Shanghai and Shenzhen.

China and the EU should respect each other’s social system, Wang said, adding that the two sides are not systemic rivals, their consensus exceeds differences and cooperation outweighs competition.