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Another reason is the rise in third- and fourth-tier cities may depend on an increase in hidden local debt. In this round of the real estate cycle, housing prices continued to increase for a long time with a huge overall rise. Decrease of housing prices in more third- and fourth-tier Chinese cities indicates the end of the boom in the property sector, which started at the end of 2015.

Another major contributor is the 3 Series, whose sales went up 5 percent to 150,000 units.

Ant Financial Services Group, Alibaba's financial arm, also struck deals earlier this year to back Pakistan's fintech firm Telenor Microfinance Bank, as well as team up with Bangladesh's payment platform bKash.

Another example of Canberra's fractured foreign policy is the blocking of Hong Kong-based Cheung Kong Infrastructure's A billion (.3 billion) takeover of Australia's largest gas network operator APA Group, on the grounds that it was "not in the national interest". What makes this move even more contradictory is that CKI owns some of the biggest energy companies in Australia.

Anta Sports Products Ltd has unveiled a new series of products to target young, high-end consumers with affordable prices in a move to take on the sector's leading brand Lululemon.