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Commercial banks in China posted a 3.56 percent increase in the balance of non-performing loans, quarter-on-quarter, to 1.64 trillion yuan (5 billion) at the end of the second quarter, said the China Banking Regulatory Commission. The NPL ratio remains unchanged at 1.74 percent.

Colin Seah, director of the Singapore studio Ministry of Design, said adaptability will be key, with multifunctionality the main feature.

Co-founder and CEO of Shorelight Education. [Photo provided to China Daily]

Coming from a line of silversmiths, Pan was also put off by the bleak situation. "Nobody outside these mountains knew about Miao silver jewelry. Production was limited, and so was demand," Pan said. "My father wanted me to find work at bigger cities. Silversmithing wasn't enough to make a living."

Combined revenue from main business totaled 116.5 trillion yuan, up 11.1 percent from 2016.