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But on the other hand, the value of the M&A cases jumped 22 percent year-on-year in Asia, which can be largely attributed to the BRI. Australia became the top M&A destination during the first half of this year, with the total deal value amounting to .8 billion. Its advanced technology and well-established elderly healthcare system are much favored by the Chinese investors, explained Chen.

But Jones believes they did not do anything disgraceful in order to survive the disaster after visiting foreign archives, museums and cooperating with American and Chinese historians. This is not only a story about the survivors of Titanic, but also a story of a group of brave Chinese people exploring the outside world at that time, he said.

But neither scale nor quantity were "primary goals", Xiao underscored. "Technology and market development motivate the restructuring of centrally administrated SOEs. These are the standards we are following."

But San Francisco-based Wells Fargo Bank reported profit of 1 cent per share compared with .20 a share a year earlier. Analysts expected the company to earn 33 cents a share. Revenue of .71 billion missed estimates of .28 billion.

But Governor Andrew Cuomo has resisted his request, saying any such plan would need to be adopted regionally, adding he fears the panic such a move might cause.