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As "America first" reins in the world's largest economy, many are increasingly turning to China, whose leaders have committed to openness and globalization.

Approximately 50 percent of the net proceeds of this offering will be used for research and development of smart EVs and technologies, while 30 percent of the net proceeds of this offering will be used for marketing and expansion of sales channels, the company said in its prospectus.

Around 200 Chinese strategic funds and angel investors interacted with executives of Indian startups, and evaluated investment opportunities, said Mahendra Swarup, leader of the visiting delegation and founder of Venture Gurukool, an early-stage investor and organizer of networking events for startups.

As Jawa further explained, locating the first advanced production base of this kind in China can be largely attributed to the technology maturity in the country, especially in the development of smart factories.

Around 100,000 people have been removed from the government list of registered poor, while another 95,000 have been added to the list.