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Chinese home-sharing company Xiaozhu Inc reached a strategic agreement with Hainan provincial tourism development and reform commission on Wednesday in Haikou, capital city of Hainan province, to develop rural home-sharing business on the tropical island.

Chinese major listed insurers, also important players in the capital market, took a conservative approach to the market this year and hope to boost their overseas investment.

Chinese consumers continued to buy high-end luxury bags, clothes, jewelry and wines in China due to international travel curbs. Total sales of luxury goods are set to rise by 45 percent on a yearly basis to 44 billion euros ( billion) this year.

Chinese e-commerce giant Alibaba came in third this quarter, thanks to the?Tmall Genie speaker released last year. Alibaba shipped 1.1 million units in the quarter, led the way in China and captured 11 percent of the smart speaker market.

Chinese infrastructure techniques are urgently needed to rehabilitate America's poorly maintained and in some cases dilapidated bridges and road system, industry experts from both countries agree.