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He said the IT sector is typically more resilient than others in the economic downturn as it is easier to adjust its investment plans. Economic downturns don't prevent people from upgrading from dull phones to smart phones or from using phones just for making phone calls to using them for accessing information and reaching out to friends over the Internet.
Hong Kong-listed China Pacific Insurance plummeted 10.04 percent on news that private equity firm Carlyle Group is raising up to 737 million U.S. dollars by selling 220 million shares.
Their net sales margin ratio came in at 3.8 percent, down 1.1 percentage points from a year ago, while the rate of return on equity was 2.9 percent, down 0.9 percentage points year on year.
However, it is mainly up to these companies to seek out opportunities and avoid risks, he added.
China has maintained its position to resolve the China-EU trade friction through consultation and cooperation, said the statement.
