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China's huge and fastgrowing market has acted as a catalyst. Data by China Market Monitor, a market analysis company, said the sales of laser TVs in China more than tripled in the first half of 2018. Data service provider AVC also said sales of laser projectors in China increased 48 percent to reach 162,000 sets in the same period.

China's industrial profit grew 22 percent in the first half of the year, much faster than the 8.5 percent increase in 2016, according to the National Bureau of Statistics.

China's foreign exchange market maintained a basic equilibrium in October, according to SAFE data, indicating a balanced supply and demand relationship. Cross-border capital flows also remained stable, including an equilibrium of foreign exchange settlement and sales by banks－a deficit of .4 billion in October, lower than the average of the first nine months.

China's employment was also sound with unemployment rate dropping in April, another indication of steady economic growth, Liu said. The surveyed unemployment rate in urban areas was 4.9 percent in April, 0.2 percentage point lower than that of the previous month, according to the NBS.

China's colleges and universities must promote water conservation on campus, according to a notice released on Friday.