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As required by China's Organic Product Certification Management Measures, organic products sold in the domestic market must be certified by the China Certification and Accreditation Administration.

As the contagion spreads at varying speeds across countries, economies showed differentiated paces of recovery, while bankruptcies and financial instability still threaten the outlook. That is pushing policymakers around the world to continue to provide robust financial aid to ensure the foundations for resilient growth, economists said on Sunday.

As the industry shifts towards smart, internet-connected, battery cars, with electrified powertrains, it's increasingly hard for automakers to differentiate, he said.

As the end of the first quarter this year, Chinese banks' total assets reached 276 trillion yuan (.1 trillion), up by 7.7 percent year-on-year. The non-performing loan ratio of commercial banks stood at 1.8 percent as of the end of the first quarter, slightly higher than the ratio of 1.74 percent in 2017. The banking sector also reported net profit of 571.5 billion yuan in the first quarter, up 6.09 percent year-on-year, according to the China Banking Association.

As the market is getting increasingly fierce both in China and abroad, the US firm said it tends to focus on a strategy of "product-first" to gain a lead.