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Chinese authorities launched a wave of investigations targeting the financial sector in late 2015 after stock market slump that summer in a rout that wiped out trillions of dollars in market capitalization.

Chinese companies are looking for more than just technology, Liu Yi, president of Guangcai Group, told the US business people. His investment company has 10 billion RMB in medical funding alone.

Chinese police have previously investigated Shanxinhui for allegedly manipulating people into taking part in pyramid selling and cheating them out of huge amounts of property under the guise of helping the poor.

Chinese consumers are more willing to raise spending for the next 12 months on quality of life related items, such as sports, education, travel and healthcare, and are willing to defer less pressing items such as auto purchase, the report showed.

Chinese medical experts pose for a photo before boarding a plane at an airport in Urumqi, Northwest China's Xinjiang Uygur autonomous region, April 20, 2020. They are expected to share COVID-19 prevention and treatment experience with public servants, doctors and other people in need in Kyrgyzstan. Photo provided to chinadaily.com.cn