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Ant Financial Services Group has become a new technical associate of international secure-payments consortium EMVCo, according to a recent announcement of EMVCo, a move that will provide fresh impetus to the Chinese company's going global efforts.

Anxi Tie Guanyin, a variety of oolong tea, was discovered and cultivated in Anxi county in Fujian. The tea has now achieved a brand value of 142 billion yuan ( billion) and has become a leading national tea brand, according to Zhang.

Another major driver behind China's pole position is its advantages in battery cell production, according to German consulting firm Roland Berger, which conducted the study in partnership with German automotive research institute Forschungsgesellschaft Kraftfahrwesen Aachen.

Ant Financial－which owns a digital wallet service, a wealth management fund, and a micro loan platform,－is losing ground in the world's biggest digital-payments market and is therefore unlikely to conduct an IPO in 2017, reported news agency Bloomberg, citing sources with knowledge of the matter.

Apart from companies that already have a large number of ANDA approvals－such as Shanghai Fosun Pharmaceutical Group Co Ltd and Jiangsu province-based Novast Laboratories Ltd－an increasing number of Chinese companies are strengthening their presence as they go global and win ANDA approval.