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Art insurance is regarded as the most direct and efficient way to control such risks and help policyholders gain economic compensation afterwards, according to Yang Hongbo, general manager of property insurance business of TK.cn, a subsidiary of Chinese major insurer Taikang Insurance Group.

As China's independent refiners, or teapots, see their costs rising thanks to the country's new taxation system and higher crude oil prices, insiders are urging them to shift focus to the high-end market to avoid their margins being further crushed.

Arreaza also spoke highly of China's reform and opening-up, saying the past 40 years shows that China has the ability to respond to the needs of its people and adapt to global economic developments.

Apple reported late July its financial results for its fiscal 2020 third quarter with quarterly revenue of 59.7 billion U.S. dollars, an increase of 11 percent from the year-ago quarter while the net sales in the Great China region increased to 9.329 billion dollars. Its Wearables, Home, and Accessories unit brought in 6.450 billion dollars, a 16.7-percent growth.

Aroma, lobby level of the Ritz-Carlton, Beijing; 83A Jianguo Road, China Central Place, Chaoyang district. 010-5908-8161.