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Big-name Chinese tech firms such as Alibaba and Huawei have decided to set up new bases in Hongshan, expecting to power the creation of China's first IoT town.

Boeing Chief Executive Dennis Muilenburg testifies before the House Transportation and Infrastructure Committee during a hearing on the grounded 737 MAX in the wake of deadly crashes, on Capitol Hill in Washington, US, Oct 30, 2019. [Photo/Agencies]

Boeing has estimated the costs of the 737 MAX grounding at more than billion to date, and is expected to disclose significant additional costs during its fourth-quarter earnings release on Jan 29.

Born in 1927, Chen is an academician of the Chinese Academy of Sciences and has devoted himself to China's petrochemical industry for 70 years. As the founder of catalytic cracking engineering technology in China and a prestigious specialist in oil refining engineering and coal-chemical technology, he has made groundbreaking contributions to advance the country's oil refining industry, according to the Publicity Department of the CPC Central Committee.

Both capital and labor-intensive, gold making is generally considered a traditional industry. Its survival in Shenzhen contrasts with the city's modern image, as the southern high-tech hub is known for specializing in innovation.