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CVC funds are different from traditional venture capital or VC firms. While the latter are by and large driven by the goal of maximizing returns on their short-term investments, CVC funds such as Intel Capital, Google Ventures and Alibaba-backed Blue Pool Capital accord priority to strategic, long-term objectives.

Called AISee Jewel, the app allows visitors to try on jewelry such as rings, necklaces and earrings from brands it collaborates with. Visitors simply need to take a photo of the jewelry using their mobile devices.

CITIC's disclosure document showed that revenue for the McDonald's China master franchiser, called Fast Food Holdings Ltd, was 24.8 billion yuan in 2018. For the first 11 months of 2019, it was 24.4 billion yuan. Operating profit for the first 11 months of 2019 was 16.2 billion yuan and net profit for the same period was 856.2 million yuan, according to the statement. This is compared with 16.4 billion yuan and 1.15 billion yuan respectively for 2018.

CSRC will also persist in the direction of marketization, legalization and internationalization and continue to promote deepening reform and opening up of the capital market in an all-round way, Liu added.

Canadian Prime Minister Justin Trudeau said, “When it comes to trade and international cooperation, China and Canada share the belief that more openness and more collaboration is the right way forward, indeed, the only way forward.”