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Data has shown that irrational outbound investment has been effectively curbed, officials said.

Dai Wei, founder and CEO of ofo, said the deal will help the Beijing-based firm expand its presence in both the domestic and global market.

Dahongmen Bridge was another area where rainwater collected in 2012 due to poor drainage. Located on the South Fourth Ring Road, the water reached a depth of 3 meters, flooding overpasses and submerging vehicles.

Dang told reporters on the sidelines of the conference that a large crowd of small Chinese brands cannot win out against Western giants. To spur domestic agricultural development, authorities should encourage brand-building rather than offering blueprints.

Data from JLC showed polypropylene production, a main raw material to produce protective masks and suits, reached 25.49 million tons in capacity in China in 2019, while the total production was 20.96 million tons, far greater than the need to cover the demand for mask production.