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Component manufacturers in Guangdong are also taking the initiative to explore new technologies together with the rise of emerging markets.

Companies in Guangdong province are making all-out efforts to reduce fallout from the Sino-US trade friction, according to a senior government official and some company executives.

Companies in the automobile supply chain have suffered widespread shutdowns and reduced production capacity during the pandemic, leading to an imbalance in the supply and demand of many raw materials and parts. On top of this, a rise in transportation costs has pushed up prices of components and parts.

Companies listed on the mainland stock exchanges are likely to offer more cash dividends to investors this year to further bolster market confidence and encourage long-term value investing, experts said.

Commemorative activities were held last week at Nelson Mandela Square in Sandton, Johannesburg, where a bronze, 6-meter-tall statute of the statesman stands.