Hong Kong’s Stalled Land Tender: A Telling Sign of Weak Market Outlook and Obstacle to Urban Renewal Efforts
The unsuccessful land bid in Hong Kong illustrates a bleak forecast and hampers city revitalization initiatives. Analysts suggest that high construction expenses and substandard profits might deter developers from partnering with the URA.
The inability of Hong Kong to auction off a business property in Kowloon City this week signifies a double setback for the real estate sector. CK Asset Holdings was the only company to place a bid, indicating a cautious attitude among developers towards future prospects. This has hindered the government's attempts to rejuvenate the city region.
"Vincent Cheung, the managing director of Vincorn Consulting and Appraisal, stated that the URA has already extended some leeway to prospective bidders, such as allowing payment in instalments. He added that it's not feasible for them to significantly lower the reserve price to align with the market bid."
The purchase price of the property could potentially increase due to expenses incurred in assembling all individual or strata-title units prior to proposing a joint development with other partners. Cheung also mentioned that the URA has to raise its own funds to carry out the project. The latest instance of this was a bond sale in August that generated HK$12 billion (US$1.5 billion).
The bid for the Kai Tak/Sa Po Road project attracted attention from 30 developers and business organizations even prior to the official commencement of the bidding process. The available space, measuring 5,307 square meters, has the capacity to accommodate 810 residential properties. The successful bidder will be required to construct a "sunken plaza" that will connect to a proposed subterranean shopping avenue.
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China’s Digital Revolution: State-Owned Merchants Group Automates Ports to Enhance Efficiency and Reduce Work Stoppages
China's efforts to develop 'smart' ports immune to work disruptions
A division of the government-owned China Merchants Group is advocating for various digital and automation technologies to enhance the efficiency of ports.
According to She Zhenwu, the director of international business expansion at CMG's port division, handling the dock cranes and rubber-wheeled gantry cranes was once the most challenging task for employees at the Mawan terminal.
"Now they can manage everything from a distance, comfortably situated in a control room," she informed journalists during a press conference on Thursday in Shenzhen.
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Mainland Chinese Fintech Firms Establish in Hong Kong to Capitalize on ASEAN Markets: A Strategic Move Backed by Hong Kong Government
Financial technology firms from mainland China are establishing operations in Hong Kong in order to reach Southeast Asian markets. These companies are being backed by the city's Office for Attracting Strategic Enterprises.
"KN Group's senior vice-president, Jiang Xuan, has announced plans to relocate some of our domestic risk and research-and-development departments from the mainland to Hong Kong. However, he stresses the importance of hiring more local talent," during an interview.
He stated that his business has garnered substantial backing from the Hong Kong administration following its attraction to the city by the Office for Attracting Strategic Enterprises (OASES). This agency aims to draw in companies from strategic sectors.
He stated that they have received significant assistance, such as local hiring and visa aid, for their employees transferring from the mainland. He went on to say that they've collaborated with local universities to conduct data research projects, which KN Group appreciated.
The administration has singled out four sectors crucial for its progress: healthcare technology, AI and data science, fintech, and cutting-edge manufacturing and renewable energy technology. The financial head of the city announced in early October that following a governmental initiative, over 10 firms from these targeted fields are slated to establish branches in Hong Kong.
"Prior to establishing our main base here, we conducted extensive research on various locations in Southeast Asia, including Bangkok and Singapore," stated Jiang. "With regard to the fintech sector, companies from mainland China are highly competitive, and our current location allows us to effectively bridge their technological advancements with the Southeast Asian market. Furthermore, the ample capital available here aids in our business expansion."
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US Imposes Export Restrictions on TSMC: Halts Advanced Chip Shipments to China Amid AI Tech Concerns
The US has instructed TSMC to cease the export of high-tech chips utilized in AI technologies to Chinese clients. The Department of Commerce has issued a letter to TSMC, enforcing export limitations on specific high-end chips intended for China.
The Commerce Department has issued a letter to TSMC, implementing export limitations on specific high-tech chips – those of 7 nanometre or more advanced designs – intended for China. These chips are used in AI accelerators and graphics processing units (GPU), according to the source.
The US directive, which is being reported for the first time, was issued a few weeks after TSMC informed the Department of Commerce about the discovery of one of its chips in a Huawei AI processor, as was reported by Reuters last month. Tech Insights, a research company, disassembled the product and found the TSMC chip, which seems to be a breach of export regulations.
Huawei, which is currently targeted by the U.S. measures, is placed on a limited trade roster. This necessitates suppliers to secure permits for delivering any products or technology to the firm. It's highly probable that any permit that could support Huawei's AI initiatives would be rejected.
TSMC halted deliveries to the Chinese chip creator Sophgo after their chip was found to be identical to one discovered on the Huawei AI processor, as informed to Reuters by sources last month.
It's unclear to Reuters how the chip found its way into Huawei's Ascend 910B, launched in 2022, which is considered the leading AI chip produced by a Chinese firm.
The most recent restrictions encompass a wider range of businesses and enable the US to evaluate if other corporations are rerouting chips to Huawei for its AI processor.
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Driving Success in the Automotive Sector: Mastering Vehicle Manufacturing, Sales, and Aftermarket Services Amidst Evolving Market Trends and Consumer Preferences
The Automobile Industry is undergoing major transformations driven by advancements in Automotive Technology, shifts in Market Trends, and evolving Consumer Preferences. Businesses are adapting to a future where electric and hybrid vehicles dominate, necessitating a focus on Regulatory Compliance and innovative Vehicle Manufacturing. The integration of autonomous driving and connected car features is pushing the boundaries of Industry Innovation, while digital transformation reshapes Automotive Marketing and the delivery of Automotive Sales and Car Rental Services. Success hinges on understanding and leveraging these changes, from mastering Aftermarket Parts customization to optimizing Supply Chain Management and excelling in Vehicle Maintenance and Automotive Repair. Companies leading in the Automobile Industry are those that align closely with these top trends, ensuring they meet consumer demands while maintaining competitiveness in a rapidly evolving market.
In the fast-paced world of the automotive industry, where vehicle manufacturing and automotive sales form the backbone of a thriving market, businesses are constantly navigating a landscape marked by rapid technological advancements and shifting consumer preferences. From car dealerships to aftermarket parts suppliers, and from vehicle maintenance giants to automotive repair shops, every player in this sector is vying for a pole position in a race defined by innovation, regulatory compliance, and market trends. This article delves into the intricacies of running a successful automotive business, shedding light on the critical importance of understanding industry innovation, mastering automotive marketing, and ensuring supply chain management efficiency. As we explore "Navigating the Road Ahead: Top Trends and Innovations in the Automobile Industry" and "Revving Up Success: Strategies for Automotive Sales, Aftermarket Parts, and Vehicle Maintenance Mastery," readers will gain insights into how businesses can accelerate their growth by leveraging top automotive technology, understanding consumer preferences, and adapting to the dynamic automotive landscape. Join us as we embark on a journey through the gears of the automotive sector, from car rental services to the forefront of industry innovation, and learn how to steer your business toward unparalleled success.
- 1. "Navigating the Road Ahead: Top Trends and Innovations in the Automobile Industry"
- 2. "Revving Up Success: Strategies for Automotive Sales, Aftermarket Parts, and Vehicle Maintenance Mastery"
1. "Navigating the Road Ahead: Top Trends and Innovations in the Automobile Industry"
In the ever-evolving landscape of the Automobile Industry, businesses are steering through a highway of rapid changes, propelled by advancements in Automotive Technology and shifts in Market Trends and Consumer Preferences. As we cruise into the future, several key trends and innovations are shaping the trajectory of Vehicle Manufacturing, Automotive Sales, Aftermarket Parts, Car Dealerships, Vehicle Maintenance, Automotive Repair, and Car Rental Services. Understanding these dynamics is crucial for companies aiming to navigate the road ahead successfully.
One of the most significant drivers of change in the Automobile Industry is the increasing emphasis on sustainability and regulatory compliance. The push towards electric vehicles (EVs) and hybrid models is not just a response to environmental concerns but also a strategic adaptation to changing regulatory landscapes across the globe. This shift requires a reimagining of Vehicle Manufacturing processes, Supply Chain Management, and Automotive Sales strategies to meet new standards and consumer demands for greener transportation solutions.
In tandem with the green revolution, the integration of cutting-edge Automotive Technology is redefining what vehicles can do. From autonomous driving capabilities to connected car features that enhance the driving experience and improve safety, technology is at the forefront of Industry Innovation. For Automotive Repair and Maintenance services, this means staying abreast of new technological advancements to offer the specialized care these sophisticated vehicles require.
The digital transformation of the Automobile Industry is also impacting how businesses connect with their customers. Automotive Marketing strategies now leverage digital platforms more than ever, utilizing data analytics to tailor offerings and communications to specific consumer segments. This digital approach extends to Automotive Sales and Car Rental Services, where online platforms and mobile apps are becoming increasingly prevalent, offering convenience and personalized experiences to consumers.
Furthermore, the rise of the sharing economy has introduced new models of vehicle ownership and usage, which in turn affects Car Rental Services and Car Dealerships. This trend towards shared mobility solutions is prompting businesses to explore innovative service models and partnerships to stay competitive.
Supply Chain Management remains a critical backbone of the Automobile Industry, ensuring the timely delivery of parts and vehicles amidst global challenges. Companies are adopting more resilient and flexible supply chain strategies, incorporating digital tools and analytics to anticipate disruptions and optimize operations.
In the realm of Aftermarket Parts, customization and personalization continue to be significant trends. Consumers are looking for ways to make their vehicles more unique and suited to their lifestyles, driving demand for aftermarket products and services that can deliver on these desires.
To sum up, navigating the future of the Automobile Industry requires a multifaceted approach. Businesses must keep a pulse on Industry Innovation, adapt to changing Consumer Preferences, ensure Regulatory Compliance, and embrace new Automotive Marketing techniques. By doing so, they can accelerate towards success in a dynamic and competitive market.
2. "Revving Up Success: Strategies for Automotive Sales, Aftermarket Parts, and Vehicle Maintenance Mastery"
In the fast-paced world of the automobile industry, businesses that excel in automotive sales, aftermarket parts, and vehicle maintenance share a common thread: they leverage a blend of market trends, industry innovation, and consumer preferences to drive success. Understanding and implementing strategies in these key areas are paramount for businesses aiming to lead in vehicle manufacturing, sales, and service.
**Automotive Sales Success**
For car dealerships, success hinges on a deep understanding of automotive marketing strategies that resonate with today's consumers. Top performers in automotive sales are those that effectively utilize digital platforms to showcase their inventory, engage with potential buyers, and provide a seamless online-to-offline buying experience. Emphasizing the value of quality vehicles, competitive pricing, and exceptional customer service, these businesses stay ahead by anticipating consumer needs and preferences, thereby fostering loyalty and repeat business.
**Aftermarket Parts Prowess**
The market for aftermarket parts is a significant component of the automobile industry, driven by consumer demand for customization, upgrades, and maintenance of their vehicles. Businesses that excel in this realm often have robust supply chain management systems in place, ensuring the timely availability of a wide range of parts for different makes and models. Moreover, staying abreast of automotive technology trends allows these companies to offer the latest innovations in aftermarket parts, catering to the evolving needs of vehicle enthusiasts and repair shops alike. Regulatory compliance also plays a critical role, as it ensures that aftermarket products meet stringent safety and environmental standards.
**Vehicle Maintenance Mastery**
Automotive repair and vehicle maintenance services thrive by prioritizing customer satisfaction and operational efficiency. Top-tier service centers invest in ongoing training for their technicians to keep them updated on the latest automotive technology and repair techniques. This commitment to industry innovation ensures that they can handle a broad spectrum of maintenance and repair needs, from routine services to complex diagnostics and repairs. Furthermore, successful vehicle maintenance businesses understand the importance of clear communication and transparency with their customers, building trust and encouraging repeat visits.
**Adapting to Evolving Market Demands**
The dynamic nature of the automotive sector, influenced by technological advancements, economic conditions, and regulatory changes, demands agility and foresight from businesses. Adapting to these changes requires a continuous evaluation of market trends and consumer preferences, allowing businesses to pivot their strategies as needed. For instance, the rising interest in electric vehicles and sustainable automotive technology represents both a challenge and an opportunity for traditional businesses in the sector, prompting them to innovate and diversify their offerings.
In conclusion, mastering the domains of automotive sales, aftermarket parts, and vehicle maintenance involves a multifaceted approach that includes effective automotive marketing, understanding and adapting to market trends, ensuring regulatory compliance, and above all, prioritizing customer satisfaction. Businesses that manage to excel in these areas are well-positioned to achieve long-term success in the ever-evolving automobile industry.
In conclusion, thriving in the fast-paced realm of the automotive business necessitates a multifaceted approach that encompasses a keen understanding of the top trends and innovations shaping the automobile industry. As we've explored, from vehicle manufacturing to automotive sales, aftermarket parts, car dealerships, vehicle maintenance, and automotive repair, each segment offers unique challenges and opportunities. Car rental services, too, are an integral part of this dynamic ecosystem, adapting to the shifting landscapes of consumer preferences and automotive technology.
The keys to success lie in mastering supply chain management, staying ahead of market trends, ensuring regulatory compliance, and embracing industry innovation. Furthermore, automotive marketing strategies that resonate with target audiences can significantly boost customer satisfaction and loyalty, driving businesses forward.
As the automotive industry continues to evolve, fueled by advancements in automotive technology and changing consumer demands, businesses must remain agile. Whether it's exploring the potential of electric vehicles, tapping into the power of data analytics for personalized marketing, or implementing sustainable practices in manufacturing and operations, staying informed and adaptable is crucial.
Ultimately, the future of the automotive business will be shaped by those who not only anticipate market trends but also actively participate in creating the next wave of consumer-driven, technology-enabled, and environmentally responsible automotive solutions. By fostering a culture of innovation and staying committed to quality and customer service, businesses within the automotive sector can gear up for a journey of growth, resilience, and unprecedented success.
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Foreign Lifestyle Brands Double Down on Chinese Market: The Bet on Quality Over Cost Amidst Wealthier Consumers
International lifestyle companies, from Ikea to Muji, continue to invest heavily in the Chinese market. They are opening new stores to cater to affluent Chinese consumers who consistently spend on high-quality imported goods.
Affluent individuals in China continue to spend generously on luxury goods due to their superior quality and dependability, according to global brands and merchants. This is occurring even as international businesses increase their presence in the world's biggest consumer market, in spite of economic difficulties.
Osim, a massage-chair manufacturer from Singapore, Ikea, a furniture company from Sweden, and Muji, a Japanese retailer of household items, have all expressed their intention to keep expanding their presence in mainland China by opening new stores.
"Wealthy individuals in this area prioritize premium quality and have faith in well-established international brands," stated Lily Yang, deputy brand manager at Osim China. "For these people, getting good value for their money isn't about purchasing top-notch products at the cheapest rates. In contrast, they aspire to buy a product whose quality and functionality justify its cost, even if it exceeds the average market price."
"She confirmed that their sales [at the CIIE] this year are projected to exceed their predictions. Osim plans to maintain its growth rate in China while aiming to expand into new major cities such as Suzhou and Chengdu."
The creator of lifestyle goods possesses 200 outlets throughout mainland China, making up fifty percent of its worldwide total. It operates a manufacturing plant in Suzhou, which is approximately an hour away from Shanghai, where massage chairs are produced for their Chinese clientele.
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US Trade Commission Finds Chinese Chipmaker Innoscience Guilty of Patent Infringement, EPC Eyes Licensing Agreements
The U.S. International Trade Commission has determined that Chinese GaN power chip manufacturer, Innoscience, violated a patent owned by its U.S. competitor, Efficient Power Conversion Corp.
The ITC's final verdict, released on Thursday, revealed that Innoscience had breached one of EPC's disputed patents. As a result, the agency set forth a restricted exclusion order, banning the import of specific Innoscience chips that infringed on EPC's patent.
EPC, a company from California, announced on Thursday that the ITC ruling marked the first successful US patent argument related to GaN-based wide bandgap semiconductors. The business anticipates making its intellectual property in GaN technologies available to prospective partners via licensing deals.
Innoscience, on the other hand, expressed its disagreement with ITC's verdict and plans to challenge the decision through an appeal.
Innoscience declared on Friday that the lawsuit will not affect its clientele, according to a company announcement. The company emphasized that the ITC's verdict has resolved a contentious design issue, and mentioned that it has already devised a solution. It also indicated that new products will be launched shortly.
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Alibaba’s Strategic Shift Benefits Sellers on Singles’ Day: A New Era in E-Commerce
Alibaba vendors are enjoying a better arrangement this Singles' Day, thanks to successful new policies. As the leading online retail company in China, it was losing ground in the battle for consumer spending. However, the company managed to turn things around by redefining its ties with its sellers.
China's leading e-commerce firm made a decision, five years down the line, to forego the celebration of the world's biggest online shopping event. The resources that would have been used for the party will now be redirected to benefit both merchants and consumers.
Alibaba, the proprietor of the South China Morning Post, has discreetly been altering its strategies in response. It has distanced itself from the fierce pricing competition that surfaced in this area and aimed to establish a fresh equilibrium between purchasers and vendors where the customer isn't constantly prioritized. According to experts and traders, this shift is now yielding positive results.
Robust expansion from primary purchasers – the 42 million large investors known as 88VIP members – indicates that Alibaba is moving in the correct direction, says Jacob Cooke, co-founder and CEO of WPIC Marketing + Technologies, a consultancy specializing in e-commerce and technology.
"Cooke mentioned that they had an intense discussion regarding their 88VIP users, implying that their main focus is on attracting high-profile, big-spending customers rather than a large number of people who spend less. This is the aspect where Alibaba truly differentiates itself."
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October Sales Surge for China’s Property Developers: The Impact of Rate Cuts and Stimulus Measures on Vanke, Longfor, and Others
Real estate firms in China, including Vanke and Longfor, experienced a significant increase in sales in October. This sales uptick was primarily due to a release of accumulated demand, stimulated by reductions in interest rates, providing a vital lift for developers.
The boost in property sales in October has provided more financial flexibility for China's underfunded developers. This improvement is largely attributed to Beijing's recent economic boost strategies, such as reducing mortgage rates for property owners, which have strengthened market optimism.
On Friday, China Vanke reported a monthly rise of 23% in contracted sales, reaching 21.4 billion yuan (US$2.98 billion) in October. Meanwhile, Longfor Group, a Beijing-based developer listed among the nation's top 10 in terms of sales, revealed a 37% surge in contracted sales to 11.2 billion yuan.
China Jinmao, a branch of the government-run Sinochem Corporation, experienced a significant increase of almost 66 percent in agreed sales from the last month, reaching 11.6 billion yuan.
The sales figures for October indicate a surge in previously suppressed demand, triggered by the central bank's reduction in interest rates and the delays brought about by the health crisis, according to Shen Meng, a director at the Beijing-based investment company, Chanson & Company.
The Finance Department also committed to backing appropriate tax strategies to promote the stable growth of the real estate market. It also recognized that special bonds could be employed to purchase unused land and decrease surplus housing stock.
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Xpeng’s AI-Powered Sedan Challenges Tesla’s Dominance: A Look into China’s Autonomous Driving Market
Xpeng introduces an AI-driven sedan to compete with Tesla's FSD self-driving system. The firm, based in Guangzhou, has established three different pricing tiers for the P7+ sedan: 186,800 yuan, 198,800 yuan, and 218,800 yuan.
The company based in Guangzhou has set three different pricing tiers for the P7+ sedan, depending on the variety of driving ranges: 186,800 yuan ($26,104), 198,800 yuan, and 218,800 yuan. This pricing structure is in contrast to its presale price of 209,800 yuan, as stated by Xpeng on Thursday. Hence, the P7+ is at least 5 per cent less expensive than Tesla's Model 3, which has a starting price of 231,900 yuan. The company also announced that it would begin shipping the vehicles as of Thursday.
"The Xpeng P7+ is working hard to offer the globe's top smart driving solution," stated He Xiaopeng, the founder and CEO of Xpeng.
Currently, China's automobile industry is undergoing significant turmoil due to competitive pricing and the rush of manufacturers to incorporate advanced features in their cars to attract buyers. The nation hosts a multitude of intelligent car manufacturers, producing vehicles with features like self-driving technology, voice control systems, and facial recognition software. These innovative approaches are driven by consumers' increasing demand for enhanced digital connectivity.
Tesla is one of the auto manufacturers that has adopted self-driving technology, and the firm believes it will play a crucial role in the expansion of China's electric vehicle market. The company, which is headquartered in Austin, Texas, was originally slated to introduce its Full Self-Driving software in mainland China by the end of the year. However, the postponement has provided an opportunity for its Chinese rivals to take the lead by launching their own versions.
"The more Tesla delays its FSD launch in China, the more advantage its Chinese competitors can gain," stated Chen Jinzhu, the CEO of Shanghai Mingliang Auto Service, a consulting firm.
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Ant International Leverages AI to Revolutionize Cross-Border Payments, Boost Global Expansion
Ant International is leveraging AI to enhance cross-border payments and facilitate global growth.
The company's AI system provides hourly forecasts of currency exchange rates, assisting businesses in cutting down transaction expenses.
Incorporating AI into the handling of international transactions is vitally important for bolstering worldwide trade and commerce, particularly for small and medium enterprises (SMEs) who until this point, have been unable to afford instantaneous global settlement services," stated Yang Peng, CEO of Ant International.
In order to mitigate potential hazards, Ant's latest foreign exchange model, which merges numerous existing models, includes features that permit human involvement if inconsistencies arise between the new model and its predecessors, as per Yang's statement.
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US Federal Reserve Undeterred by Political Uncertainty: Implements Quarter-point Rate Cut Amid Cooling Inflation
The US Federal Reserve disregards political instability, reducing rates by a quarter point
It is anticipated that Federal Reserve chairman Jerome Powell will be interrogated on Thursday regarding the economic repercussions of Trump's triumph in the US election.
The U.S. Federal Reserve disregarded the political instability in Washington and proceeded with a quarter-point reduction in interest rates on Thursday. This move further relaxes the monetary policy as inflation continues to slow down.
The Federal Reserve noted that the job market has generally relaxed since the beginning of the year. They also highlighted ongoing efforts to reduce inflation to align with the bank's long-term aim of two per cent.
The decrease in interest rates continues from the Federal Reserve's move in September, where it initiated its easing cycle with a significant drop of half a percent, and planned further reductions for this year.
The preferred inflation measure of the Federal Reserve dropped to 2.1% in September, even as the economy continues to show strong growth.
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Hong Kong’s Base Interest Rate Drops to 5% in Response to Fed’s Cut: A Return to February 2023 Levels Amid Economic Uncertainties
The fundamental interest rate in Hong Kong has declined to 5% following a quarter-point reduction by the Federal Reserve. With the addition of the half-point reduction in September, Hong Kong's primary rate has reverted to its standing in February 2023.
Hong Kong's unofficial central bank has reduced its benchmark interest rate for the second time this year. This move is aimed at decreasing the cost of financing in order to support businesses and ease the strain on mortgage payers.
"The future speed of rate reductions is still unpredictable as it depends on the economic data from the US, which will be affected by fiscal, economic, and trade policies," stated the HKMA following the rate cut. "The potential for worldwide financial market instability should continue to be vigilantly observed."
The US is still in the early phases of its cycle of reducing interest rates. The Hong Kong Monetary Authority (HKMA) has stated these rates may stay fairly elevated for a while. It also repeated its warning to the public to be cautious about the risks associated with interest rates when purchasing real estate or borrowing money.
The decision made by the Federal Reserve was predicted by many, with 97.5% of traders foreseeing the 25-basis-point cut that the Fed eventually implemented. The remaining traders anticipated no alterations, as indicated by data gathered by CME Group from Fed fund futures contracts on Tuesday.
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