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China's internet search giant Baidu Inc announced Friday that Lu Qi will no longer serve as chief operating officer of the company starting in July 2018 due to personal and family reasons, but he will continue to serve as vice-chairman of the board of directors.

China's express delivery firms handled 4.52 billion parcels in January, surging by 13.5 percent from the same period in 2018. Their total revenue went up 19.9 percent year-on-year, reaching 59.68 billion yuan.

China's currency, the yuan, is convertible for trade purposes under the current account, while the capital account, which covers portfolio investment and borrowing, is largely run by the state in an effort to manage capital flows in and out of the country.

China's outbound direct investment, after peaking in 2016, went through a drastic reduction in 2017 amid the central government's efforts to curb irrational investments overseas that bring potential risks to overall financial security.

China's economy has seen a strong recovery, and Chinese consumers' purchase behaviors have already returned to pre-pandemic levels, if not higher, business magazine Forbes said in its article, "What To Expect On Singles' Day 2020" on Nov 2.