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By 2020, Shanghai will have at least 10 leading companies offering smart manufacturing system solutions, 100 smart plants and 1,000 enterprises taking advantage of smart manufacturing solutions, upgrading the city's manufacturing sector to being technology-based and innovation-driven, said Chen.

By Tuesday morning, the storm was downgraded and forecasters said it would not make landfall.

But the Hong Kong government's decision on June 15 to suspend the proposed amendments to the city's extradition laws is expected to ease tensions, with Hong Kong's business returning to normal.

By November, the city had prepared 6,816 rental apartments at affordable prices for college graduates, according to local housing authorities.

But the price of oil, a proxy for future economic activity, has rebounded from its low as investors bet on increased demand ahead.