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China sold 47.52 million television sets last year, down 6.6 percent year-on-year, the biggest decrease since 2003, according to a report from domestic home appliance market monitor All View Cloud. The market researcher attributed the sales drop to spillover from tightened property market management, rising component costs and the popularity of other gadgets with similar functions, such as smartphones.

China will continue to deepen mutually beneficial economic and trade cooperation with Africa, and help the continent foster new drivers of organic growth, the Ministry of Commerce said on Tuesday.

China should invest in developing new drilling machinery, said William Webster, member of the US National Academy of Engineering, at the 2017 East Asia Marine Cooperation Platform Huangdao Forum held in Qingdao, in Shandong province.

China will accelerate capital market reforms this year, giving priority to expanding the market-based initial public offering system, improving the quality of listed companies and increasing market openness to draw more long-term institutional capital from home and abroad, analysts said.

China launched the crude oil futures trading, which is open to overseas investment, in March 2018.