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Data from China Bicycle Association show the country's bicycle export volume, value and average price all posted a yearly decline last year, down 11.4 percent, 12.4 percent and 1.2 percent, respectively.

Death Cab for Cutie sings a familiar tune about Amazon, the tech boom and changing Seattle

David McCormick, co-CEO of Bridgewater Associates LP, said the company has an extensive history in China, as a result of having been deeply involved in and studying the evolution of its economy and markets for more than 30 years.

Defendants often worked overseas and purchased the products before returning to China, according to Rong, who added, "A small number of them bought the products for friends and their own use, but most aimed to sell them at a profit."

DXY, a leading online healthcare platform in China, announced on Wednesday it has teamed up with major vaccine enterprises, such as MSD, GSK, Sinovac Biotech Ltd and Hualan Biological Engineering, to establish a vaccine service platform.