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China's manufacturing activities also expanded at the fastest pace in four months in July on the back of economic stabilization, according to a survey conducted by Markit and sponsored by Caixin Media Co Ltd on Tuesday.

China's online lifestyle platform Meituan recently made a deal acquiring bike-share company Mobike for .7 billion (23.26 billion yuan), according to business news portal Lanjinger, which cited an insider Tuesday.

China's manufacturing activities expanded at the fastest pace in four months in July, on the back of economic stabilization, according to a survey conducted by Markit and sponsored by Caixin Media Co Ltd on Tuesday.

China's foreign exchange reserves moderately increased to .101 trillion at the end of May, the highest level in nine months. They were up by .1 billion or 0.2 percent from April, according to data from the country's top foreign exchange regulator on Monday.

China's dairy industry has made great progress in improving product quality but much remains to be done to regain public confidence lost after a series of scandals a decade ago, according to a senior industry executive.