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Company looking to boost its product exports from facilities in Egypt, Russia

Co-organized by the Embassy of Azerbaijan to China, the Heydar Aliyev Foundation and the School of Asian Studies of Beijing Foreign Studies University, the event was held as part of a series of events marking the 650th anniversary of great Azerbaijani poet and thinker Imadeddin Nasimi.

Commercial banks' combined net profits totaled 855.5 billion yuan (about 3.7 billion) in the first five months this year, with their average return on assets standing at 1.1 percent and a capital adequacy ratio of 13.6 percent.

Companies are expected to lower costs by more than 200 billion yuan from 2018 to 2020, according to an estimate by the Guangdong provincial government.

Concerns were expressed in certain quarters that Chinese players, a large number of whom are at their very early stage of development, might be eliminated from the market due to stiff competition from foreign giants.