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Banks, insurance and securities companies have received heavy fines for flouting market rules, and internet finance companies once prospering on easy and fat profits are having a difficult time surviving with the enhanced rules.

Bank of China Ltd, a large State-owned commercial lender, launched an anti-epidemic section on its mobile banking platform, with a focus on epidemic control and financial activities. It is providing more than 30 types of online services in the section, including searches for real-time information about the epidemic, free online medical consultation, payment of living expenses, investment and wealth management.

Based on this new co-partnership, Ma believes Alibaba has the ability to handle the transfer of power, and also indicated the company has upgraded from an individual-dependent enterprise into a company with a dependable system and talent pool.

Barber said that supporting Chinese and global firms to develop businesses in markets related to the initiative will continue to be a priority for KPMG.

Banks that offer reasonable amount of credit to the struggling private sector benefit by way of a lower RRR, which helps them to lend more and earn more.