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Banks' profitability has also been under pressure due to the shrinking net interest margin resulting from the liberalization of interest rates and a string of rate cuts by the central bank in 2014 and 2015.

Battery storage power plants, which can effectively address power shortage during peak hours, have also been in operation in Shanghai and Guangdong, according to Liu.

BYD Chairman Wang Chuanfu said lithium iron phosphate batteries were mainstream products in the early development stages of the electric car sector, but as customers wanted cars with longer ranges, many carmakers have gradually replaced them with ternary lithium products.

Based on the theme of "Maintaining International Order and Promoting Peace in the Asia-Pacific", this year's forum, from Oct 20 to 22, featured four major topics: big nation relations and global order; Asia-Pacific security risks and management; interests and joint security of small and medium-sized countries; and international arms control mechanisms and global stability.

Barnes & Noble announced in January that it plans to spin off its Nook business, and with today’s news that’s still a possibility. Obviously, Microsoft is now in the driver’s seat if it were to pursue an outright acquisition, bolstering its 17.6 percent stake.