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Deleveraging is likely to have an uneven impact across regions. For example, regions such as Liaoning, Shanxi, Hunan, Yunnan province and Tianjin with a high concentration of overcapacity industries or outdated industrial structures stand out as the most exposed to overall economic and financial stress.

Despite a sluggish world economy, the expanding group of wealthy Chinese, especially millennials, is showing a bigger appetite for luxury travel, adding a bit to the members' spirit of adventure.

Despite the general economic growth downturn due to the COVID-19 pandemic, online education has been one of the few growth areas in the country. The sector is expected to see more traction as the ensuing winter vacation may trigger fresh competition for student enrollments among the leading firms.

Designated accommodations are in place nationwide for travelers from Hubei province who are unable to return home due to the virtual lockdown of the province, the epicenter of a pneumonia outbreak caused by a novel coronavirus.

Despite raised forecasts, world economy still faces uncertainties, economists say