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American Express announced on Saturday its joint venture in China, Express (Hangzhou) Technology Services Company Limited, has received approval from the People's Bank of China, the country's central bank, for a network clearing license.

Among the schools were 10 postgraduate institutes for doctors in Taiwan's five elite universities including Taiwan University, Hsinchu-based Tsing Hua University and Chengchi University, the United Daily News reported, quoting the island's education authorities.

Among the six lenders, Postal Savings Bank of China recorded the highest growth in net profit attributable to shareholders of the bank during the first nine months, which was 16.22 percent year-on-year, followed by Agricultural Bank of China Ltd (5.28 percent) and China Construction Bank Corp (5.25 percent), according to their financial results for the third quarter.

Amid mounting concerns over its hefty valuation and pricing, Xiaomi, the world's fourth-largest smartphone maker by shipments, is said to have priced its IPO at the bottom end of the price range at HK, trimming its IPO size by almost one-fourth to .7 billion.

American Airlines also suspended its US-China passenger service in February. It announced in March that it planned to restart flights from Dallas to Beijing and Shanghai, as well as flights from Los Angeles to Beijing and Shanghai on Oct 24.