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Another challenge is to find the right balance between government intervention and letting markets play a decisive role. Substantial progress has been made over the past two years; for instance, with reducing excess industrial capacity and the housing overhang, and government intervention played a critical role here. However, it is also broadly accepted that well-regulated and competitive markets are critical for increasing economic efficiency and productivity. This is exactly what China needs to achieve a high-income economy in the coming years.

Another wild card in the market right now is Hulu, the popular television and movie service, which is currently accepting acquisition bids from a variety of potential suitors.?Amazon.com, as we noted yesterday, is reportedly among them, along with Google, Yahoo and DirecTV.

Another 100 companies have expressed intentions to settle in Hainan. They include State-owned enterprises such as China Travel Service Group, China COSCO Shipping Corp, China Poly Group Corp and Sinochem Group; overseas giants such as Temasek, KPMG, Deloitte Touche Tohmatsu and DTZ Holdings; and private groups including Tencent Group, JD Group, Suning Group and Pacific Ocean Construction. Agreements will be signed with them in the near future, said the bureau.

Another fresh food delivery app Missfresh has seen its orders surge by 300 percent year on year during the epidemic outbreak, according to Wang Jun, CFO of the company.

Another person has gone missing in the incident, Magar said.