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Data released on Friday by the US Bureau of Labor Statistics (BLS) showed that US employers cut a staggering 20.5 million jobs in April, erasing a decade of job gains since the global financial crisis and pushing the unemployment rate to a record 14.7 percent.

Data from the National Bureau of Statistics shows on a yearly basis new residential housing prices in China's first-tier cities declined 0.4 percentage points more in April compared with a 0.6 percent drop in March, new home price growth in second-tier cities was even with the March level, and those in third-tier cities saw year-on-year growth 0.3 percentage points lower than a month ago.

Data from app tracker Analysys Qianfan show Ofo's arch-rival Mobike has taken the top spot in terms of active users in November, gaining more than 18 million monthly active users. While Ofo has fallen from the top slot to second with over 17 million monthly active users, a decrease of 24 percent month-on-month.

Data from the Hubei Provincial Bureau of Statistics showed that in April, the growth rate of industrial added value of industrial enterprises above designated size, meaning those with annual revenue of 20 million yuan (.8 million) or more, was minus 2.4 percent on a yearly basis, sharply narrowed from that of the first quarter, which was minus 45.8 percent.

DHgate, a Chinese business-to-business, cross-border e-commerce platform, is marching into the lucrative cross-border online social commerce in overseas markets.