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Delivering goods, remote working and tele-medicine have gone viral during the novel coronavirus outbreak, and the booming of new business models has stimulated enterprises to accelerate digital transformation for better company management and customer service, which further promotes the upgrading and optimization of the Chinese digital economy, according to Wang Wenjing, the chairman of Yonyou, China's leading software company and cloud service provider.

Deputy Minister Zheng Zeguang told Branstad the act grossly interfered in China's internal affairs and seriously violated international laws and norms, and China will take measures including sanctions on American entities and personnel to safeguard its legitimate interests.

Despite the governance problems, the operation of the three companies has been stable with risk control indicators complying with regulations, the commission said.

Despite an expected debt increase, the official noted that the risk remains controllable, pointing to major indicators that are well below alarm levels.

Deloitte estimates that China's potential "addressable" retail financial wealth, even ignoring future GDP growth, amounts to more than trillion. Foreign financial companies see great opportunities in managing even a small part of this money.