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Companies foster partnerships with domestic startups, set up more R&D hubs

Community Table and Rise will open to the public on?Wednesday?and Maslow’s will open on?Monday. FareStart will continue to run its flagship restaurant in downtown Seattle along with its cafes in Rainier Valley and Beacon Hill.

Commercial endowment insurance, which serves as the third pillar of China's pension system, will be put under unified standards and regulations, and its development will be stepped up. The protection function of commercial endowment insurance shall be intensified. Endowment insurance featuring convenient application, flexible payment and relatively stable earnings shall be supported, and pension annuity insurance products actively developed. The insurance sector is encouraged to participate in a pilot insurance scheme for long-term care.

Combined revenue of the sector's major companies, whose annual revenue was five million yuan (3,500) or above, reached 4.22 trillion yuan during the January-June period, up 9.9 percent year-on-year, according to the National Bureau of Statistics (NBS).

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.