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Another highlight of JD Digits at CES is the showcase of its strong urban computing technologies. The company has leveraged big data and AI technology to create an intelligent city operating system, which can provide customized solutions for intelligent cities, enhance the efficiency of city operations, improve the quality of urban life and ensure sustainable development of the city ecosystem.

Apart from JD Finance, Ant Financial Services Group, the financial affiliate of e-commerce giant Alibaba Group Holding Ltd, also enables individuals and businesses to execute payments online in a secure manner.

Another notable restaurant group that made its foray into Shanghai is Putien. The restaurant chain, which boasts having a Michelin star for its Kitchener Road outlet in Singapore, currently has seven branches in Shanghai. Renowned pork ribs soup restaurant Song Fa Bak Kut has also been steadily expanding its presence, with five outlets in prime locations.

Ant Group set the price at 68.8 yuan (.27) per share for the Shanghai tranche of its dual share-floating plan, the company said in a filing to the Shanghai Stock Exchange on Monday.

Apart from increasing inclusive loans, large State-owned commercial banks also significantly cut lending rates for small businesses after these banks were required to strengthen support for small businesses.