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Analysts from Beijing-based market tracker Qimingpian wrote in a survey released in April that Chinese food and beverage companies, especially those with a larger domestic market share, have accelerated mergers and acquisitions in overseas markets. Chinese companies carried out at least 31 major overseas mergers and acquisitions between 2013 and 2018.

Analysts said the rising supply of residential land is aimed at relieving the supply-demand contradiction in Beijing's property market and help stabilize housing prices.

Analysts surveyed by Dow Jones expected payrolls to fall by 8.333 million, pushing the unemployment rate to 19.5 percent in May from 14.7 percent in April. The unemployment rate was 3.5 percent in February.

And despite the decade-long stagnation of Microsoft’s stock price, and the magazine’s recent critical piece on his leadership, Microsoft CEO Steve Ballmer moved up one notch from last year to No. 9 on the magazine’s Powers That Be list.

Andrews said the state was on track to remove restrictions on leaving the home as early as Oct 19.