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Company executives also forecast continued robustness in the segment on the back of both the increase in customer numbers and customer spending, with Alibaba CFO Maggie Wu reassuring investors last Thursday in Hangzhou that it is close to reaching break-even.

Commuters wait for a transport to leave the Woodlands Causeway across to Singapore from Johor, hours before Malaysia imposes a lockdown on travel due to the coronavirus outbreak March 17, 2020. [Photo/Agencies]

Commenting on the situation, Lin Boqiang, director of the China Centre for Energy Economics Research at Xiamen University, said the measure to facilitate overseas investment in exploration will inject impetus into China's oil and gas production.

Competitors seldom back each other unless a third-party decision threatens their very foundations, forcing them to realize an open and fair competition could be mutually beneficial.

Commerce Minister Zhong Shan answers reporters' queries online on Monday in Beijing on the sidelines of the annual national legislative session. [Photo by Wang Zhuangfei/China Daily]