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And the rent is too damn high, too. Workers who don’t wear tech badges for a living are forced to look outside the city and thus contend with the traffic coming in and out of it, creating a vicious cycle and affordability crisis.

And rising demand for such exclusive services and high-end products is a clear sign that China's consumption upgrade is gathering steam, experts said.

An original exhibition in San Francisco is expected to inspire people of today to seek beauty from truth and nature by inspiring conversations with the past.

Andrew Mattock, a portfolio manager at Matthews Asia who manages the firm's China strategy, said US-listed China stocks were down on average more than 30 percent at the end of 2018.

An official with the department, who declined to be named, said there is an urgency to introduce more measures this year amid rising uncertainties of global economy and rising costs for production, the latter of which is posing greater challenges for China's traditional heavy industries.