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An opening ceremony was held Sunday in the Hangzhou Future Sci-Tech City, with more than 1,000 people in attendance. A total of 11 institutions and companies signed 10 agreements on 5G technology at the ceremony. The agreements included cooperation on developing the digital economy and the building of artificial intelligence (AI) research centers and smart vehicle testing platforms.

Andrew Cohen in New York and agencies contributed to this story.

Analysts hold there is room for further tax reductions through measures such as lowering corporate income tax and expanding the scope of expense reductions for enterprises. Currently, China has three brackets for value-added taxes at the ratios of 17 percent, 11 percent and 6 percent respectively. The country can reduce the three brackets into two in the future, analysts suggest.

And during the nation's annual two sessions, Robin Li, chairman of Baidu, said that he was hopeful that his company would be able to list on the domestic stock exchanges as its major users and markets are in China, and it would be ideal if the major shareholders also are in China.

An online charity program that matches money donors with poor children born on the donors' birthdays blamed human error after pictures of some youngsters appeared in multiple profiles, raising suspicions among netizens.