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But due to the short history of the Chinese bond market and its relatively rapid expansion, some of the basic rules and regulations have not properly addressed the characteristics of bonds thoroughly. Therefore, the legal system concerning bonds should be completed at a faster pace, Pan added.

But if they choose to be authorized, the contract should be valid for at least three years.

But Huang made it clear that young Chinese entrepreneurs should start small and build up experience in the industry.

But it ran into a cash crunch in late 2016 after expanding too fast. Although LeEco founder Jia Yueting resigned from all his positions at Leshi due to unpaid debts and the financial crisis, he remains Leshi's largest shareholder.

But analysts from Shenzhen-based market consultancy ASKCI said Chinese consumers' demand for lifestyle products will increase as they have stayed at home for a long period due to the epidemic. The momentum is expected to carry on and the Chinese furniture industry will see exponential growth in the second half of the year, they said.