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As more elderly people surf the web, they are also encountering a wider range of online functions and increasingly using them, according to the survey, which focused on those aged 50 and older - people defined by researchers from the academy as elderly.

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 one of China's largest natural gas producers, the Tarim oilfield has been a key provider for a 4,000-km pipeline project bringing natural gas from the west to the east.

As many as 61.37 percent felt that lack of capital was the biggest challenge. Acquiring bank loan without enough credit or assets was cited as another challenge. Only 34 percent of students saw themselves as having the basic requirements for starting a business. Also, they said there was no specific government policy to support college entrepreneurs.

As part of the strategy, e-commerce giant JD.com and Chinese clothing company Ruyi agreed to sponsor the BFC/GQ Designer Menswear Fund, which awards 150,000 pounds in direct funding and a two-year mentoring program to a promising menswear designer based in the UK.