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Contract sales reached 387.5 billion yuan in 2018, up 26 percent year-on-year, the developer also said.

Construction is estimated to last no less than 60 months, and the project will cover around 70 hectares, the statement said.

Consumer spending boosted the US economy in July, raising stocks on Thursday after Wednesday's 800-point and easing immediate fears of a recession.

Crabb said he was not authorized to discuss internal department deliberations in open court, while praising the original prosecution team and insisting that the Justice Department is committed to doing its job without "fear or favor."

Counterfeit drugs have long been disrupting the Chinese medicine market, especially over-the-counter products and health supplements that are the easiest to forge.