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College freshmen usually carry suitcases full of clothes, quilts and other necessities when registering for school. But now, in a number of universities, this is no longer the case.

Companies such as Zhishi Chaoren said they have already received expressions of interest from several companies wanting to place advertisements. It said it has already received 100 million yuan as advertising fees from Qudian, a Chinese fintech company.

Concerns over the possibility of a second wave of COVID-19 infections and a return to travel and production restriction measures in some areas to contain the virus will probably hit still fragile consumer sentiment and hinder the recovery of household consumption, Wu added.

Commenting on the Regional Comprehensive Economic Partnership (RCEP) free trade agreement recently signed among the 15 Asia-Pacific nations, Molnar said that its importance goes beyond the participants in the agreement, "as this can also be a platform to access third-country markets."

Combined R&D expenditure of 8,586 firms on the board totaled 60.73 billion yuan in 2017, up 9.96 percent year-on-year.