Dàshǐguǎn wèi dāngdì qiáobāo jǔbàn le liánhuānhuì.
The embassy held a gathering for local Chinese compatriots.
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侨 means "dwelling abroad," 胞 "born of the same womb" — together framing overseas Chinese as extended family of the nation. The term is warm and official, heard in state media and at embassy events, where 华侨 (huáqiáo) is the more neutral synonym.