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Christian Cornett, a partner at the law firm King & Wood Mallesons, agrees. "One principal objective of competition law is to maintain competition to promote economic efficiency. As long as European competition law is seen as a mean to achieve this aim, mergers that reduce competition should in my view not be allowed," he said.

Chinese restaurants that specialize in food such as hot pot and dinner parties have taken the biggest hit, because many people have been avoiding large gatherings, Peng said.

Chinese shoppers are ringing the cash tills more vigorously than ever at Harrods high-end department store in London, where they have become the nationality that spends the most.

Cleaners work in snow in Shenyang, Northeast China's Liaoning province, Jan 8, 2017. A snowfall hit the northeastern region of China on Monday. [Photo/Xinhua]

Chinese tech giant Huawei Technologies Co has recently established a smart car solutions business unit, as part of its larger goal of driving a connected and smart future.