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By the end of July, Shanghai had attracted a total of 696 regional-headquarters and 450 regional R&D centers.

By the end of January, central SOEs had paid off all overdue wages of 820 million yuan to rural workers, and repaid 83.9 billion yuan of overdue debts to private companies, accounting for over 75 percent of the total, Wu said.

By now, young Chinese consumers have gotten used to e-commerce and are able to buy goods basically from any city online. Hence, offline shops no longer limit themselves to selling products. They also provide customized service and experiences of the basketball culture, which are new growth points for brick-and-mortar stores, Dong said.

By the end of 2018, the number of small and middle-sized companies surpassed 30 million and the number of self-employed industrial and commercial households exceeded 70 million. These contributed over 50 percent of the country's tax revenue, over 60 percent of the GDP, over 70 percent of technological innovations and more than 80 percent of labor force employment.

CATL said the strong profit growth came after it attracted more customers, strengthened cost control and the NEV market boom resulted in a bigger demand for its lithium-ion batteries.