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Currently, an environment-friendly petrochemical base, with an investment of 173 billion yuan from Zhejiang Petrochemical Co., Ltd. (ZPC), a mixed-ownership venture, is under construction in Zhoushan. It will form a crude oil refining capacity of 20 million tonnes by the end of the year and the capacity will increase to 40 million tonnes by 2020, according to Yuan Jiajun, governor of Zhejiang Province.

Customers visit a newly opened Hema Fresh store in Xi'an, Shaanxi province, in April, which provides more than 6,000 kinds of products imported from around 100 countries. [Photo provided to China Daily]

Cui Fan, an international trade and economics professor at the University of International Business and Economics in Beijing, said that the 2020 edition of the shortened negative lists and a series of government measures to deepen supply-side reforms showed that China has been actively building a unified, fair and efficient market.

Currently, China has 583 million gaming players, mostly those born in the 1990s and 2000s, a group referred to as millennials.

Ctrip.com, China's leading travel platform, which is a major shareholder in both companies, said the merger would help integrate its mobility and hotel resources under one umbrella. Tencent and Ctrip will become major shareholders of the new company after the merger along with other shareholders like Wanda and Ctrip-backed OceanLink.