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BlueCity reported its total revenues increased by 51.4 percent to 758.9 million yuan (8 million) in 2019 from 501.3 million yuan in 2018. And its net loss decreased by 63.4 percent to 52.9 million yuan in 2019 from 144.6 million yuanin 2018.

Born in Xi'an in Shaanxi province in 1950, the celebrated director has won the Venice Golden Lion twice: in 1992 with The Story of Qiu Ju -- which also garnered Gong Li a Coppa Volpi prize for Best Actress -- and in 1999 with Not One Less. He also won a Silver Lion in 1991 for Raise the Red Lantern.

Bilateral investment hit a new record high of billion last year with .6 billion coming from China, according to a report jointly released by the CCG and the US-based Rhodium Group last month. China had a trade surplus of around 0 billion with the US last year.

Both domestic and overseas markets have shown growing demand for excavators, with 77,814 units sold at home, up 111.7 percent year-on-year and 4,884 units sold abroad, up 14 percent.

Bogardi added new competition in China resulting from foreign players' China expansion will also encourage Chinese domestic financial companies to update their governance standards in line with international norms.