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Compared with large enterprises, which usually offer real estate as collateral, retail customers' assets are smaller and more diverse, making it much harder for the bank to deal with recoveries, Yu said.

Compared with mainstream Western social media platforms, omni-media platforms in China generally offer more features, such as customer relationship management, new product launches, corporate news and even recruitment information, Yang noted.

Commenting on his potential rival, Trump told reporters earlier this month he could easily beat Bloomberg. The president said he expected the former mayor of his hometown to "spend a lot of money" on a campaign, while teasing him, saying he "doesn't have the magic to do well."

Companies in the sectors of semiconductor and digital currency saw robust growth in share prices, with shares of Wuxi Taiji Industry Company Ltd rising by the daily 10-percent limit to 8.32 yuan per share.

Coal prices in China have surged since last year, as a result of the government's effort to curb industrial overcapacity. Premier Li Keqiang said in the Government Work Report that China will reduce coal production by at least 150 million tons this year.