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Behind the announcement of the weighting increase is global investors' growing appetite for Chinese stocks and improved market accessibility, evidenced by the sharp drop in trading suspensions in recent months, according to MSCI.

Beijing has made significant progress in its efforts to be the center for high-end manufacturing and cutting-edge research in China, judging by the success of some leading companies in the capital city.

Beijing embraced this winter's second snowfall early Tuesday morning, with authorities issuing a yellow warning for icy roads. A larger snowfall is forecast in the next three days, the municipal meteorological bureau said.

Before joining the Trump administration, Malpass was an economic adviser to Trump during the 2016 presidential campaign. He previously served as chief economist at the investment bank Bear Stearns.

Beijing Automotive Group Co Ltd, one of China's top five automakers by sales revenue, for example, said it is investing more resources to develop its SUV business.