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As should have been expected, this bet on risky investments did not work and many S&L banks went bankrupt. Since the deposits were insured by the government, the taxpayers were on the hook to pay for the S&L banks' losses, which amounted to more than 2 percent of GDP.

As the most densely populated district in central Shanghai, Yangpu has 20 science and technology parks and factories with a total space of more than 100 million square feet.

As the country pursues innovation-driven high-quality development, Chinese biotech firms have also been adopting a stronger innovation mindset, conducting world-class scientific R&D, and developing cutting-edge treatments, industry experts said.

As the Democratic Progressive Party of erects barriers to cross-Straits exchanges, the mainland is concerned about the interests and well-being of the island's residents, the State Council Taiwan Affairs Office said on Wednesday.

As stated in the 2015 Paris agreement, developed countries should provide 0 billion annually by 2020 to help developing countries and efforts go forward to keep the average global temperature increase well below the agreed 2 C above preindustrial levels. Further efforts would limit the increase to 1.5 C.