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Ant Financial Services Group, Alibaba's financial arm, acquired a controlling 51 percent stake in Cathay Century Insurance Co Ltd in 2016.

Another distributor, Well Go USA Entertainment, has released 14 Chinese-language films in 2019, doubling its North American box office from 2018's .01 million to .84 million as of Saturday. The company released only nine Chinese-language films last year.

Ant Financial, founded in 2014, ranked at the top among the 29 unicorn big data companies with an estimated market value reaching nearly billion, followed by DiDi, Meituan Dianping and Toutiao.com, Huang Bo, co-founder of China's new economic think tank, Beijing Greatwall Strategy Consultants research institute, said Friday.

Another 28 figures have been nominated for a national honorary title. The candidates for this category of honor feature outstanding figures from multiple ethnic groups such as Mongolian, Tibetan, Uygur and Hui.

Another reason why Chinese tourists are less interested in shopping overseas, according to Li, is that the quality of made-in-China products is improving. Also, the influence of Chinese brands is growing. "The time when Chinese people rushed to buy milk powder, frying pans and toilet covers at stores outside the mainland has long passed into history."