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Chinese consumers and government entities will spend more money on information services than products for the first time in 2018, according to the report released on Friday by the China Academy of Information and Communications Technology.

Chinese internet search giant Baidu Inc announced on Wednesday its smart living group has entered into definitive agreements with CPE, Baidu Capital and IDG Capital for Series A financing at a post-money valuation of approximately 20 billion yuan (.9 billion).

Chinese officials have said the influence of the epidemic on China's economy would depend on the effects of the prevention and control measures against the outbreak.

Chinese authorities now plan to cope with flooding and also keep at bay other "urban diseases", such as traffic congestion and garbage dumps in the suburbs, with guidelines in a five-year plan.

Chinese police have previously issued three such lists targeting a total of 30 suspects at large and have apprehended all of them, it added.