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Battery giant Contemporary Amperex Technology Co Ltd (CATL) signed on Wednesday a long-term multi-billion dollar agreement to supply Volvo Cars with lithium ion batteries over the coming decade.

Back in 2015, about 300 coffee-themed makerspaces opened in cities across China, including Beijing, Shanghai and Guangzhou, as the nation kicked off its campaign to boost innovation and entrepreneurship.

Bai Ming, a senior research fellow at the Chinese Academy of International Trade and Economic Cooperation, said: "Huawei is the global leader in 5G. The US government's effort to contain Huawei is the fight for supremacy in the future tech world."

Based on its earnings per share registered in 2018 and its net profit, HYC's price earnings ratio is 41.08 times, which is higher than the 31.11 times average static PE ratio over the past one month.

Baoshang Bank Co Ltd, an Inner Mongolia-based commercial lender, received regulatory approval for a transfer of its business, assets and liabilities to Mengshang Bank Co Ltd and Huishang Bank Corp Ltd, the China Banking and Insurance Regulatory Commission said in a notice on Thursday.