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Around 500 experts and people from domestic and abroad wine organizations, associations, colleges, enterprises and companies will take part in the expo, the ninth of its kind, themed "gathering to realize purple dream."

Argentine President Mauricio Macri. [Photo/VCG]

Approximately 2.9 billion yuan of the proceeds is proposed to repay the outstanding bank loans of Sanya Atlantis, and the remaining proceeds are for the Group's business development. The Foliday board thinks revitalizing existing assets by issuing the CMBS will help improve the financing structure of the company, effectively expand financing channels, reduce financing costs, enhance financing efficiency, help provide sufficient cash reserves and accelerate the development of the Group, according to the announcement.

As European Commission President Jean-Claude Juncker complained in his first "state of the union" address earlier this month, the EU has not been appropriately represented in international institutions. He said: "How can it be that we - Europeans - are jointly major shareholders of global institutions such as the International Monetary Fund and the World Bank and still end up acting as a minority?" Washington, on the other hand, exercises veto power and the right to appoint US nationals as the heads of the World Bank and some other international financial institutions.

As China's top legislature prepares to meet for its annual session beginning Tuesday, nearly 3,000 deputies, or lawmakers, will note with interest that consumption upgrade, which they had endorsed last year as key to economic growth in the new era, has borne fruit in the form of Chinese consumers' growing demand for high-quality goods, including luxury products.