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China's mobile payment sector has seen rapid development, driven by improved Internet infrastructure, increased use of mobile phones and innovation of financial services.
China's fuel retail sector is currently dominated by State-owned companies. According to Li Li, energy research director at ICIS China, a consulting company that provides analysis of China's energy market, most gas stations owned by non-SOEs see a much lower profit compared with the State-owned ones, due to poor brand visibility as well as ordinary location of their fuel stations.
China's economy kept up a steady recovery in November, with major economic indicators such as growth in consumption and investment rallying to the best levels of the year, the National Bureau of Statistics said on Tuesday.
China's market regulator said on Monday that the government will promote stricter regulation and supervision over online commerce, amid public concerns about false advertising, fake imported goods and monopolistic practices.
China's measures to limit the human damage caused by the virus were very strong through January and February, so the economic data looks grim for those months. Industrial production fell 13.5 percent in those two months, while retail sales fell 20.5 percent and fixed asset investment plunged 24.5 percent, according to the National Bureau of Statistics. The urban unemployment rate rose to 6.2 percent in February, which is a mild increase relative to what we are seeing in other countries.
