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Competition in the Chinese asset management industry will be intensified by the entry of the foreign firms in the long run, said independent economist Song Qinghui. But on the other hand, domestic companies will improve their services and product quality to face the competition, which is conducive to the sustained development of the entire industry, Song said.

Colorful: People's lives have become colorful. The diversity has not only been manifested in basic necessities such as food and clothing, but also in the culture and people's perspectives.

Compared with Gu'an, Jiashan has a better economic foundation. Zhao Hongjing said at a media conference that the more economically developed the region, the greater demand for high-end industries. That's why Jiashan county has met with obvious economic benefits.

Combining the pipeline assets of the country's big three State-owned energy giants - China National Petroleum Corp, China Petrochemical Corp and China National Offshore Oil Corp, the creation of the new company will help foster a more competitive environment for all players in the sector.

Compared with the same period last year, food prices remained a major driver of consumer inflation in June, as its growth rate strengthened from May to 11.1 percent.