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Chan recalled that when he was in the government, he insisted on ensuring that financial technology was developed in a well regulated environment. His insistence might have hampered the development of the P2P, or person-to-person, lending platform. But, the collapse of these markets in some economies has proved that he was right.

Car-sharing service providers EVCard and Pand Auto said that the car-sharing business has high operating costs, a need for long-term investment and strong service capability, making it difficult for industry players to survive, Gasgoo reported.

Cargill is bringing a wide range of products, including beef, cocoa, chocolate and edible oil, to the expo. It is one of the more than 3,000 companies from over 130 countries and regions keen to take advantage of the opportunities offered by the world's first import-themed national-level expo, being held this week until Saturday.

Ceramic firms, salespeople, and startup teams can register on the website/app to be considered for free physical space and access to livestreaming equipment to exhibit and sell their products online.

Che Jun, secretary of the Zhejiang Provincial Committee of the Communist Party of China, said that "building the digital economy is our top project, through which traditional industries are transformed and optimized, and the innovative ability and competitive edge of Zhejiang is enhanced".