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Chinese social commerce app Xiaohongshu, or "Little Red Book", said on Friday it had secured 0 million from a cohort of investors led by Alibaba Group Holding Ltd, as word-of-mouth and cross-border shopping continue to influence China's retail landscape.

Citing the example of loans offered by online lending platforms to college students that were banned because of concerns over exorbitant rates, violent debt collection and financial scams, Yu said applying digital technologies to consumer credit irresponsibly may lead to financial risks, widen the spread of risks, and seriously infringe upon consumer interests.

Chinese video game companies are playing for high stakes. As the global gaming market enters an increasingly mobile era, they are being forced to adapt to an industry which is moving toward free-to-play.

Chinese students would naturally have doubts during this time of uncertainty, but they are largely eager to study overseas and are still making plans in the face of travel restrictions, says Dwyer.

Chinese smartphone vendor Oppo said on Tuesday that it will invest 50 billion yuan (.1 billion) over the next three years on research and development, as it aims to boost its technological prowess amid fierce competition in the 5G-enabled internet of things era.