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America's trade deficit is - first and foremost - caused by excessive consumer spending, low savings and a huge fiscal deficit, not trade with China. After removing the usual 20 percent error from the US published figures for trade in goods and taking into account America's enormous service trade surplus, the true deficit with China amounted to 0 billion in 2018 - a fraction of some of the wild exaggerations sometimes claimed.

Amid a boom in the global wealth management sector, CreditEase Company, the Beijing-based financial technology conglomerate, is ramping up efforts to expand its presence in overseas markets.

Amidst the dwindling customer footfall, Italian fashion house Prada plans to close its 1,393-square-meter store at Plaza 2000 along Russell Street in Hong Kong's Causeway Bay district when its seven-year lease expires in June 2020.

Among the company's three backbone business sectors, KFC markets saw China ranked the first with the largest share of KFC global system sales in 2018, reaching 27 percent.

Among them, 108,000 were found engaging in the practice of formalities for formalities' sake or bureaucratism, a category specified for the first time in similar reports.