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Cliff Sheng, co-head of China at Oliver Wyman, said on Wednesday: "In the past, non-standardized debt assets used to form a major part of the underlying assets of banks' wealth management business in China ... Under the new regulatory policies, however, part of the debt assets will turn from shadow banking assets into consumer finance assets and supply chain finance assets. The rest of the debt assets will turn into open assets in the secondary market or private equity assets. The latter two segments of assets will flow out of banks."

Chris Capossela, Microsoft’s chief marketing officer. (Microsoft image).

Chinese tourists walk past the Louvre Pyramid outside the Louvre Museum in Paris. [Photo/Agencies]

Chinese tourists in Croatia could be in for a surprise when they see police from their homeland patrolling the streets this summer.

Citing previous market performance, Zhu said the yuan has depreciated against the dollar following Washington's renewed threat of tariff hikes on Chinese goods. Similarly, the yuan fluctuations earlier this month were a natural market reaction, resulting from trade tensions that have been escalated by the US, she said.