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Collaboration also can extend to the issuance of funds, so that Chinese enterprises stand to purchase or issue funds to support projects related to, for example, the Belt and Road Initiative, said Romeo Lacher, president of SIX Group AG.

Companies which pledge patent rights to get bank loans are becoming a popular way to secure financing in southeastern China, where many technology startups are looking for funding support to sustain their growth.

Compared with the draft policy issued two months earlier, the final version of the specific additional deductions policy has increased quotas on rent deductions and medical costs, which will further ease taxpayer burden for those who do not own properties or have amassed significant medical expenses, experts said.

Company eyes food supply for growth as home sales dip due to COVID-19

Combining over 80 percent in terms of monthly active users, the three Tencent-owned platforms are distantly followed by rival NetEase Inc's music arm at 66.8 million and other even smaller players including Alibaba Group Holding Ltd's Xiami Music, the consultancy said.