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Cui Dongshu, secretary-general of the China Passenger Car Association, said the age of fast and assured growth is gone and those who don't respond to market changes will fail. "Declining car sales may speed up the process of squeezing out the incompetent players and we may see some of them exit the market," he said.

Cyclical industries such as steel, chemical and nonferrous metal reported strong earnings. Seven steel firms more than doubled their profits year-on-year.

Cui said China certainly had serious concerns about the THAAD deployment. It won't help reduce the tension or prevent the dangers on the Korean Peninsula, he noted.

Critics also point out Amazon’s lack of diversity in leadership roles; the company’s executive suite and board of directors have been mostly white over the years. Last year, Rosalind Brewer, the Starbucks chief operating officer, became the first black woman to serve on the board since the late 2000s.

Cynthia Villar, who was standing for reelection as a candidate endorsed by President Duterte, has emerged as a big winner, securing over 25 million votes. Other Duterte allies－such as Duterte's long-time aide Christopher Lawrence "Bong" Go and former Philippine National Police's Director General Ronald "Bato" dela Rosa－were in the top five, with each of them garnering about 19 million votes.