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Chile confirmed 34,381 people have tested positive for the coronavirus and 346 have died from the disease, following a one-day increase of 2,660 new cases and 11 more deaths.

Children show off their qipao designs at Qinghefang Street in Hangzhou on Oct 22. The qipao, also known as the cheongsam, is popular for its body-hugging design that accentuates the female form. [Photo provided to chinadaily.com.cn]

Chen Tao, an analyst at the Beijing-based consultancy Analysys, said people in smaller cities and towns are looking for high-end quality products, along with the rising e-commerce penetration rate in lower-tier cities.

Cheng Wei, 34, founder of ride hailing company Didi Chuxing, saw his personal wealth surge by 27 percent year-on-year to 16.5 billion yuan.

Chen also welcomed all enterprises to take part in China's IC development fund, as its second round of fundraising was currently underway.