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Banks also invested 175 million yuan in 120 high-tech startups in the same period.

Banks are stronger in terms of their resources like institutional clients, their reach to capital and their extensive network of branches. But leading securities firms are more capable in research, distribution and underwriting, said Cao.

Barnes & Noble, struggling to gain traction against Amazon’s Kindle, expects its Nook business to go deeper into the red.

Based on Kraft Heinz's global resources and management experience, the factory is equipped with a series of highly automated production lines, including a central production control system and automated filling machines.

Bankruptcy filing by major producer, shift to plant-based options shake up industry