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Ant Financial Services Group, the financial affiliate of Alibaba Group Holding Ltd, backed ZhongAn and Qudian, while PPDAI has stakeholders like Sequoia Capital, Lightspeed China Partners and Legend Capital.

Anka Muhlstein

Another keynote speaker, Wei Zhenglin, counselor at the Chinese Embassy to the US in Washington, said that such sentiment is widely shared among both government officials and businesspeople in Nebraska.

Apart from streamlining permit approval, another policy will allow the issuance of a work permit valid for two years, double the current normal permit validity, to foreigners who work in high-tech companies and other fields favored in the demonstration zone.

Apart from being poor at branding and design, many Chinese toy companies also find themselves caught in price competition and lag behind in intellectual property protection awareness. For example, in late April, police busted the Shenzhen-based Longjun Toy Factory for counterfeiting Lego products in a scandal involving more than 200 million yuan ( million).