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As the A-share market has become more mature and the T+1 system has proved it has its own drawbacks, there is a need for a change, experts said.

As private firms are important builders of socialism with Chinese characteristics, the country will unveil more policies to push for the steady development of those firms, the statement said.

As the first overseas route connecting China's railway system using Chinese technology and equipment, the China-Laos Railway is a major project in infrastructure interconnectivity between China and neighboring countries, and a major project in implementing the Belt and Road Initiative.

As the mixed ownership reform of these SOEs made impressive progress, China has selected 50 SOEs in three rounds to conduct such reform, from both the centrally and locally-administered levels, in fields including power, energy, civil aviation, telecommunications and the defense sector since 2016, the National Development and Reform Commission said in October.

As the money flowed in, many companies have prioritized customer acquisition over profitability by offering deep discounts or free small-ticket deliveries. This has resulted in exponential expansion of the market with an annual growth rate of over 40 percent, said Eric Hor, associate partner of global consultancy Prophet.