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As SPDB's branches compete with each other over profits, its Chengdu branch, which had been a star performer for years, was "favored" by the management and received less scrutiny, leaving the massive fraud undiscovered for years, an accounts manager for corporate loans at the bank told China Daily, requesting anonymity.

As he gained experience, Hu realized that the English he had learned at college was not adequate for the demands of the job.

As graduates receive three years of work experience, their income will have an obvious rise amidst gaining momentum. Guo adds that without CPI's influence, the monthly income of university graduates increased 20 percent from 2012 to 2016, and 22 percent for higher vocational college graduates in the same period.

As a share of regional gross domestic product, the report said that emerging East Asia's local currency bonds outstanding climbed to 91.6 percent at the end of June, from 87.8 percent in March, mainly due to the large amount of funding needed to fight the pandemic and mitigate its impact.

As a response, State Councilor and Foreign Minister Wang Yi said earlier this month that, "Plenty of facts are proof that the BRI is not a debt trap that some countries may fall into, but an economic pie that benefits local populations. It is not a geopolitical tool but a great opportunity for shared development."