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Ant Group, the parent company of China's largest mobile payments business Alipay and a major provider of financial services technology, announced on Monday that it has commenced the process of a concurrent initial public offering on the Shanghai Stock Exchange's STAR board ("SSE STAR" market) and The Stock Exchange of Hong Kong.

Another eight policies have been introduced to relax the limits for foreign service providers, including lowering the capital requirement for setting up investment companies in Shanghai and allowing the establishment of wholly foreign-owned performance agencies and travel agencies.

Announcing the latest relief package on Tuesday, Chief Executive Carrie Lam Cheng Yuet-ngor said the Normal Old Age Living Allowance and the Higher Old Age Living Allowance will be merged and all Hong Kong citizens aged 65 or above are entitled to receive the monthly HK,585 higher allowance. About 560,000 elderly people will be entitled to the higher allowance.

Anyone who participated in unauthorized assemblies broke the law, he said, adding that police would do their utmost to deter violent acts, including using more force. However, Lam stressed that only the minimum necessary force has been used when dispersing illegal protesters.

Animals are seen in the foreground of a bridge of the Nairobi-Mombasa Standard Gauge Railway on Dec 5 near Nairobi, Kenya. CUI LIU/FOR CHINA DAILY