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Amundi Asset Management, the asset management arm of France-based investment bank Credit Agricole SA, is banking on more cross-border initiatives in the financial sector between the Chinese mainland and Hong Kong to tap the burgeoning demand of mainland investors' for global assets.

An intercity express line (R1 line) linking Xiongan New Area in Hebei province with Beijing Daxing International Airport will begin construction in the near future, hebnews.cn reported.

An investor group led by Chongqing Casin Enterprise Group (Casin Group) has been seeking SEC approval of the deal since late 2016, with numerous letters challenging the deal.

Among them, the services sector, which claimed roughly 70 percent of Shanghai's GDP composition, ebbed 2.7 percent to reach 609.6 billion yuan. Agriculture and industry output slid 18.2 percent and 18.1 percent, respectively.

An aerial view of Hengqin Free Trade Zone in Zhuhai, Guangdong province. [Photo provided to China Daily]