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An exciting part of Chinese consumerism is the rise of discretionary spending, according to Jeffrey Towson, managing partner of Towson Capital. He pointed out that the increase in expenditure on discretionary products in China annually is forecast to exceed 7 percent till 2020. Within this same period, the growth of spending on "semi-necessities" annually should hit 6 to 7 percent.

An official has been suspended from his duties at the commerce bureau in Jingzhou, Hubei province, after he was identified as improperly taking his son back home from Tianmen, another city of the province, by abusing his personal ties, the Jingzhou municipal government said on Saturday.

An assessment report released by the Development Research Center of the State Council and SINOSURE showed that over 150 billion U.S. dollars of China's exports and investment in Belt and Road countries were insured by the company in 2018, surging 15.8 percent from the previous year.

Among these "unicorns," over 30 percent were e-commerce or internet finance businesses, while culture and entertainment, automobile and transport, online medical service and AI companies also achieved rapid development, it said.

An annual report from the Institute of International Education found that the number of newly enrolled international students dipped by 1 percent in fall 2018 compared to the year before. It follows decreases of 7 percent and 3 percent in the previous two years. Those were the first downturns in more than a decade.