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Chinese President Xi Jinping and senior officials joined representatives from all walks of life at the state memorial ceremony marking the 80th anniversary of the carnage to pay a silent tribute.

China's securities firms, which have been driving this quarter's A-share market bull run, have emerged as one of the biggest winners of the recent rally, and could see mergers and acquisitions as they are on the cusp of a new era.

China's retail sales of consumer goods declined 19 percent year-on-year in the first quarter amid the novel coronavirus epidemic. Online sales stayed relatively stable as consumers turned to online shopping when staying indoors, falling 0.8 percent. Online sales of physical goods expanded 5.9 percent to 1.85 trillion yuan, accounting for 23.6 percent of the total retail sales in the first quarter.

China's service sector is expected to play a bigger role in powering the economy as increasingly affluent Chinese consumers demand more diverse and better-quality services.

China’s family planning policy undoubtedly helped China enjoy years of double-digit GDP growth, but it has also left the country with demographic imbalances.