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Chinese property giant Evergrande Group acquired an electric-car battery company on Thursday, the latest example of companies moving decisively into the rapidly growing new energy vehicle industry, even though analysts say the sector faces bumpy roads ahead.

Chinese people who work and study abroad are among those affected.

Chinese leaders have reiterated on different occasions that the country will avoid beggar-thy-neighbor policies and not use the exchange rate as a weapon to solve trade issues. Instead efforts will be more on enhancing the macroeconomic policy coordination with other countries.

Chinese electronics giant TCL is gearing up to become one of the top three-selling TV brands in the US within the decade. They plan to do it by strengthening partnerships.

Chinese consumers spent a record high of 770 billion yuan on luxury goods abroad and accounted for one-third of the total luxury spending worldwide last year, according to a McKinsey report. The figure is expected to hit 1.2 trillion yuan by 2025.