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By the end of July, the asset-liability ratio among SOEs nationwide stood at 64.93 percent, which is 1 percentage point lower compared with the same period last year, said the National Development and Reform Commission.

By depending on ranking systems such as U.S. News, Chinese families, who have already spent a significant amount of money to send their children to study abroad, are just trying to find the simplest way to identify the best schools, Mercer said.

CATL shipped the equivalent of 40.25 gigawatt-hours of automotive lithium-ion batteries in 2019.The company is an industry leader with a global share of 28 percent, according to South Korea's SNE Research.

CATL said that through the nonpublic issuance of stocks, CATL will strengthen its battery development and further expand production capacity to meet growing market demands and enhance the company's profitability.

By selling multi-brand jewelry in brick-and-mortar stores, the company is targeting China's young middle class professionals who demand quality and diversity.