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Chinese Cigarettes to Go Global
China is hoping a partnership with Philip Morris can make it a global player in the tobacco business.
After more than three years of negotiations, the Chinese government has selected three domestic cigarette brands, of the hundreds sold, to market abroad in partnership with Philip Morris International, according to PMI and the Chinese companies involved.
China has more smokers, some 350 million, than the U.S. has people. China's booming tobacco industry, which the government says generates about $30 billion of annual tax revenue, is an important part of the national economy.
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