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Bogle also believed that the corporate structure of most fund companies poses an inherent conflict of interest, because a public fund company could put the interests of investors in its stock ahead of those owning shares of its mutual funds. Vanguard has a unique corporate structure in which its mutual funds and fund shareholders are the corporation's "owners." Profits are plowed back into the company's operations, and used to reduce fees.

Both countries are at a crucial period in their development, Xi said, and bilateral cooperation has broad prospects. He said he considers Sino-Malaysian ties highly important and expressed hope that the two countries, taking the joint building of the Belt and Road as an opportunity, would strengthen synergies between their development strategies to inject new content into the China-Malaysia comprehensive strategic partnership, and add new momentum to regional development.

Born in Kazakhstan in 1994, he won several awards in his country. But Kudaibergenov became known to people in China only after participating in the Hunan TV reality show, Singer 2017, in January. In two months he has gathered more than 3.3 million fans on Sina Weibo, the Chinese equivalent of Twitter.

Blackstone Chief Executive Officer Stephen Schwarzman predicted Monday that China would allow foreigners to own entire financial companies within the country. "That'll happen pretty quickly," he said.

Biotech company BGI has set up coronavirus testing laboratories in 12 Chinese cities, with the ability to test 70,000 people per day.