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Based on the booking information from April 5 to 11, about 75 percent of domestic trips were booked within seven days before departure, indicating that traveling on impulse is fast becoming the new normal. Short-haul routes are popular among travelers as 60 percent of trips booked between April 5 and 8 were made within 300 kilometers of where people live.

Banking and insurance institutions have resorted to special stress tests and prepared contingency plans to deal with unexpected scenarios, said Xiao Yuanqin, chief risk officer and spokesman of the China Banking and Insurance Regulatory Commission.

Baidu App's daily active users have surpassed 230 million, with a 30 percent increase in per capita length of usage and over 30 percent growth in the number of services, while its smart mini programs' monthly active users have reached 500 million, said Ping Xiaoli, Baidu vice-president and general manager of Baidu App.

Based in Nanjing University of Posts and Telecommunications, the college was jointly set up by the university's School of Modern Posts and Suning Logistics, the logistics arm of Chinese e-commerce giant Suning.

Banks were unable to make profits from loaning to safe customers at low interest rates, so they made housing and consumer loans to people with bad credit at very high interest rates. Eventually, this boom led to the housing market collapse and the global financial crisis of 2008.