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As executive chairman, Schultz oversaw the opening of upscale Reserve stores and massive Roastery showrooms as part of its new Siren Retail initiative.

As a result, nonperforming loan ratios of local banks in these regions may increase. Furthermore, a decline in the banks' asset quality may lead to a fall in their loan loss provision coverage ratios and even capital adequacy ratios, said Lu in an article posted on his WeChat official account.

As few jurisdictions have specified the ownership of data property, and BigTechs have almost controlled data. It is necessary to clarify data property rights while promoting data flow and the pricing mechanism, according to the regulator.

As a punitive action, the Uttar Pradesh government has suspended two senior state government officials in connection with the hooch tragedy. The state government also announced a probe by a special investigation team (SIT) into the deaths, most of which occurred in Saharanpur and Kushinagar districts of Uttar Pradesh.

As a result, the court announced on Tuesday that there was not enough evidence to incriminate Li, and he was exonerated and released the same day.