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Ant Financial Services Group has raised its agreed offer for electronic payment firm MoneyGram International Inc and the deal was unanimously approved by the US firm's board, outbidding rival Euronet Worldwide Inc.

Apart from fast-growing high-end manufacturing, automotive and high-tech service businesses, life sciences will have more space to grow from a long-term perspective, Li stressed. That's because China's success in driving reform within the healthcare industry will deliver a higher quality of life to its residents and lead to an explosion of growth opportunities in associated industries.

Another human-machine cooperative translation platform will be mainly applied in publishing and international conferences.

Ant Financial Services Group has invited some younger residents to address their pension options through its wealth management service, just one week after the country's target-date retirement funds received the green light from securities regulators.

Annual deposit grew 13.1 percent year-on-year to 1.9 trillion yuan in 2017, marking a five-year straight double-digit growth, according to a report released by the Ministry of Housing and Urban-rural Development, the Ministry of Finance and the People's Bank of China.