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Amazon’s stock, meanwhile, has jumped 20 percent this year alone and hit an all-time high earlier this month. It was down two percent in after hours trading today.

Among other things, he said the model available in the Chinese market will be more stylish and have better connectivity functions.

Among high-profile fraud cases last year, Ezubao, an online peer-to-peer lending platform, cheated members of the public out of nearly 60 billion yuan through fake investment projects it advertised from June 2014 to December 2015. Police opened investigations into the case in the first quarter of 2016.

Among the 17 carmakers, Changan Automobile suffered most from the deficits of 2.24 billion yuan (3.14 million), partly attributed to the falling sales of Changan Ford. With 367.92 billion yuan, SAIC Motor Corp topped the list for net profits, but its profits were still down by 27.49 percent year-on-year, the first time in 10 years it had shrunk since SAIC was listed.

Among them is 48-year-old Yu Xia from Heilongjiang province who arrived in April and has since been trying to paint a frog in a humanlike posture. Her fellow trainee, a middle-aged male automobile agent from Shaanxi province, is making a portrait of a woman across the room - and he is "here for a glimpse of village life in Fujian".