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"Dada Group and Walmart are close partners," said Philip Kuai, founder, chairman and CEO of Dada Group. "Through complementary advantages and cooperation with Walmart, we bring convenient shopping experience and one-hour home delivery services to our consumers, making O2O more popular across the country. In the future, we look forward to continuing our collaboration with Walmart."

"Even getting a toilet for the factory had to be approved by the government," said Liang. "Also, the factories rarely considered the market environment."

"Despite the progress made, we can't relax," Gao said. "It is more important to prevent anyone from returning to poverty. Furthermore, we will try our best to help all the residents become well off."

"Failure to secure further IMF funding or fiscal slippage before large debt repayments due in November would make default a very real possibility," said Capital Economics in a note.

"Digital currency has the ability to track money electronically as it changes hands, and it would be useful in anti-money laundering and fighting other illegal activities in the financial services industry," he said, adding China is one of the leading markets when it comes to implementing advanced technologies in the financial services sector.