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And thanks to a surging number of higher-paying jobs in service and technology industries, 54 percent of them will be classified as "upper middle" class, meaning they have an annual income between 106,000 yuan and 229,000 yuan.

Analysts were confident the performance of the real estate market will improve further in the second quarter given the steady demand in the sector.

And safety and convenience have likewise spurred more consumers across the region to use digital wallets as social distancing has become the norm amid the COVID-19 outbreak.

Analysts said the pick-up in consumer inflation is unlikely to continue because of a high comparative base in September 2016 and the fading effects of seasonal factors during the rest of the year.

And finally, in a recurring proposal, Newground Social Investment calls on the company to issue a regular, detailed report on its political contributions and expenditures. Amazon’s board recommends that shareholders vote against this proposal, as well, citing the company’s?existing annual political expenditures report.