Zhongdan, the company in the Caixin article, took these risks one step further.

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One of China's more outspoken media organisations, Caixin, this week published an article by Joseph Nye, an American academic.

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The reports first appeared in Caixin magazine and caused such outrage that the Hunan provincial government has launched a formal investigation.

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But Caixin Weekly, a Beijing magazine, reports that provinces still vie with one another to boost their GDP figures with the help of big investment projects.

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But Caixin, a Chinese magazine, reported on its website that the latest sanctions against Walmart had been the toughest imposed by the Chongqing authorities on any retailer in recent years.

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Hu currently heads a Caijing rival, Caixin.

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