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Because China has been steadily deleveraging its capital market for healthy and sustainable development, it is not likely, nor is it necessary, for China's capital market to experience a similar hike after the Fed's action, analysts said.

Back in the 2000s, Li used to travel between Guangdong and Hong Kong by the cheapest bus, carrying over 30 pairs of popular shoes back in one gigantic sack.

Banks are no longer the only source of NPAs for AMCs. Now China Orient also deals with the reorganization of individual problematic projects, crisis-hit companies and risky financial institutions. Its business includes both spot and forward NPA transactions.

Bank of China Ltd launched a new version of its integrated financial services plan for cross-border e-commerce on Friday to better meet the demand for financial services driven by fast growing cross-border e-commerce amid China's economic restructuring and transition.

Bai Yanmin, the company's vice-president, said the company aims to become a global 5G pioneer.