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Anbang's corporate governance existed in name only, said Yang Zeyun, a finance lecturer at Beijing Union University.

Analysts also said SMEs need to accelerate their push for digital transformation to gain key momentum in the market amid disruptions from the COVID-19 pandemic.

And ignoring the resistance of vested interst groups to reforms, China should instead deepen the reforms to enhance public confidence in their effectiveness for the betterment of the country as a whole.

Andrew Yang, who had only about 2.8 percent of the New Hampshire vote, announced Tuesday evening that he is suspending his campaign.

And its dispersed supply and marketing chains are a major driver of domestic and international freight demand, and by extension transportation fuels, especially diesel.