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Chinese smartphone maker Xiaomi has roped in international financial institutions to help it go public later this year, foreign media reported on Tuesday.

Clemens Fuest, president of the Munich-based Ifo Institute for Economic Research and a lead author of the report, said Europe has been better at seizing the opportunities of a rising China than the US.

Chongqing is facing a catastrophic flooding in its history, as the fifth flood of the Yangtze River this year began passing through the city on Thursday. So far, more than 260,000 people in Chongqing have been affected. More than 20,000 shops have been submerged so far.

Clinton－a onetime secretary of state, US senator from New York and first lady－suffered an upset defeat in the 2016 presidential election to Trump, despite winning the popular vote.

Chinese spokesman hails visit, hopes for 'positive outcomes'