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As part of its reorganization, the 118-year-old company said late Friday it will be shuttering some stores. It said the stores will close in phases throughout the Chapter 11 process and details of the first phase will be disclosed in the coming weeks. Penney is the biggest retailer to file for bankruptcy reorganization since the pandemic and joins luxury department store chain Neiman Marcus, J.Crew and Stage Stores. Plenty of other retailers are expected to follow as business shutdowns across the country have evaporated sales. In fact, U.S. retail sales tumbled by a record 16.4% from March to April.

As one of the largest and most influential sci-tech fairs in China, the CHTF has played an active role in enhancing sci-tech innovation and driving economic development. This year's fair will last until Nov 15.

As of June, the number of livestreaming e-commerce consumers in China had hit 309 million, according to the latest statistical report released by the China Internet Network Information Center.

As of 10 am Saturday, floods, landslides and mudslides had affected more than 410,000 people in 64 counties, forcing evacuation of nearly 8,400 people and causing the homes of 85 households to collapse, according to the provincial civil affairs department.

As of April 21, 45 Chinese mainland cities had home-purchase restrictions in place to curb speculative investment demand and these locations accounted for around 50 percent of the country's contracted home sales in 2016, the credit rating agency noted.