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China's empty nest youth make up a large portion of cat obsessives. Working in China's big cities far from families, many find companionship in pets, both virtual and real. For the time being at least, many youth have gone cat crazy.

China's outbound direct investment has seen rapid growth in recent years. However, noting an "irrational tendency" in the field, Chinese authorities have set stricter rules and advised companies to make investment decisions more carefully since last year.

China's domestically produced cars are more internationally competitive than they were five or 10 years ago, meaning that the country's recent opening-up measures in the auto sector will have a smaller impact, according to Paul Gong, executive director of UBS Investment Research Asia Autos.

China's growth will likely be a bright spot in the global economy as the country's GDP is projected to expand by 8.1 percent next year while the global economy is still facing recession risks as the COVID-19 pandemic has not been effectively contained, a new report said.

China's currency fell below the key 7-per-dollar level on Monday for the first time since the 2008 financial crisis, rattling markets worldwide and sending US stocks to their biggest drop of the year.