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Cathay Capital Group is a global investment platform specializing in cross-border development with a focus on North America, Asia, Europe and Africa. Founded in 2007, the group has completed over 140 buyouts, growth and venture capital investments and manages 3.5 billion Euros in assets, distributed across a range of investment strategies and vehicles.

Channeling an undisclosed amount of investment to Acewill, Huifu is looking not just to extend digital capabilities to smaller players in the industry but to help avoid unnecessary waste in food consumption through smart recommendation mechanisms offered to customers, said Zhou Ye, chairman and CEO of Huifu.

Central SOEs posted a record high net profit of 1.11 trillion yuan (7.2 billion) from January to September, thanks to supply-side reforms, which helped bring down the asset-liability ratio requirement and curbed capital outflows.

Chang Chun, co-founder of Runnar, a marathon organizer and promoter, said: "With the ongoing national consumption upgrade, the country's tourism industry has transitioned from its sightseeing focus to an interaction-based model, while sports consumers have also transformed from merely being an audience to becoming involved participants."

Capital inflow from the Association of Southeast Asian Nations and economies related to the Belt and Road Initiative into the Chinese mainland also surged 76.9 percent and 75.7 percent respectively from the same period last year.