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"Despite the high potential, huge efforts are needed to facilitate the reorganization, such as how to better distribute resources among different businesses. It is not always easy to ensure that one plus one is bigger than two," Xiang said.
"Declining transactions, tightened regulations and punishment over unauthorized agents' behavior are the major reasons behind a batch of real estate agents shutting down," said Zhang Dawei, chief analyst with Centaline Property.
"Even though the Greater Bay Area accounts for less than 1 percent of China's land territory, its population is just under 5 percent of China, it created 13 percent of the country's economic output in 2015," said Lin Jiang, deputy director of the Center for Studies of Hong Kong, Macao and Pearl River Delta at Sun Yat-sen University.
"Even in the best-case scenario of limited outbreaks in countries outside China, a sharp slowdown in world growth is expected in the first half of 2020 as supply chains and commodities are hit, tourism drops and confidence falters," the Paris-based group said in a report.
"Either China is going to write the rules on 21st century trade or we are," Biden said.
来源：资阳报