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Bai Fan, the founder of the project, said the base is intended to boost courage as its core value and to inspire young people to face unknown challenges. They will have a more interesting and creative study experience by role-playing and teamwork during the visit, he said.

Based on statistics from Alibaba and JD, traditional Chinese brands and established household names are still immensely popular, Yu said. New and fun products with the Year of the Rat IP are winners among younger consumers. Spring Festival is also a peak occasion for high-end gift packages, Yu said.

Bao Gaoshan tells his story of rising above poverty in front of his new house in Fangcheng Xincun village, North China's Shanxi province, on July 16, 2020.[Photo provided to China Daily]

Backed by intelligent algorithms, Alibaba.com's digital trade platform allows customized displays of offerings to buyers, hence adding to the chances of procurement.

Based on Bain & Company's research, the drop in Chinese overseas M&A activities were caused by a number of factors including currency depreciation, concern over the global trade uncertainties, restrictions on investments in the United States, Germany, Australia and other markets as well as the careful monitoring on the outbound investment from Chinese government.