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Biegun made the remark after a meeting in Seoul with Lee Do-hoon, the Republic of Korea (ROK)'s special representative for Korean Peninsula peace and security affairs, according to local media reports.

Belgian insurer Fidea NV has relaunched its life insurance business with a focus on long-term returns two years after it was acquired by Chinese insurer Anbang Insurance Group.

Besides MSCI, major global benchmarks like FTSE Russell and the S&P Dow Jones Indices either strengthened the weighting of China's A-shares or included the A-shares into their indices.

Besides, the regulator kept dismantling high-risk shadow banking and reduced the volume of this type of business by 16 trillion yuan over the last three years compared to the historical record. It also severely punished banks and insurers for allowing funds to flow into the real estate sector by violating regulations. The growth of bank loans directed to the property sector dropped by 3.3 percentage points year-on-year in 2019.

Besides, Zhang alone has accounted for about half of Ruhnn's total sales for nearly three years. Overreliance on top KOLs is "risky" from a purely investment point of view, and the homogenization of platforms could in turn become inevitable, according to Li Songlin, an analyst at consultancy iiMedia.