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Bertrand Austruy, Danone's executive vice-president, said there is tremendous mid- to long-term growth potential in the Chinese market, given rising incomes and greater urbanization. Such factors encourage consumers to prefer top-quality, healthful foods, he said.

Besides allowing reverse mergers on the ChiNext board, the CSRC released three other measures to encourage mergers and acquisitions involving listed firms, including removing restrictions on fundraising activities and profitability requirements for reverse merger deals.

Besides facilitating cross-border logistics, the cooperation agreement is also expected to boost the exports of small and medium-sized Spanish enterprises on AliExpress.

Besides equipping connectivity on Volvo vehicles, the system will also be applied on the vehicles of Sino-Swedish car maker, Lync & Co, a company established by Geely Holding, Geely Automobile and Volvo Cars in 2017 to produce digital and permanently connected vehicles.

Better management and supervision are also required.