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The country's maternal and infant products market is expected to grow steadily over the next decade due to rising demand from young parents pursuing high-end lifestyles, particularly in lower-tier cities.

The deal is independent of Amazon HQ2, the company’s search for a second headquarters city where it will establish an outpost equal to its original Seattle headquarters.

The deal is expected to be closed when rules capping foreign ownership for all auto ventures are lifted.

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The deal accedes to many of the union's demands, implementing an immediate 6 percent pay raise for teachers, compared with the union's call for a 6.5 percent increase. The agreement also would reduce class sizes and hire more librarians, nurses and counselors, a pillar of the union's position during five days of negotiations that ended at dawn on Tuesday.

The crowd attends a memorial service on the anniversary of the shooting which claimed 17 lives at Marjory Stoneman Douglas High School in Parkland, Florida, on Thursday. [Photo/Agencies]

The deal came after the People's Bank of China, the nation's central bank, said last year that it would control the number of third-party payment licenses issued, making them highly sought-after. In September, Meituan-Dianping, a major internet player in China, also acquired a third-party payment startup named Qiandaibao.

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The dark moment is passing, but the full recovery could take time. China needs to deepen reforms, expand opening-up and improve its business environment to achieve high-quality development.

The crippling impact of protests is obvious. Retail sales in Hong Kong fell 11.4 percent in value in July from a year earlier, the biggest decline since February 2016. In August, visitor arrivals plunged nearly 40 percent from the previous year.

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The daily output of PetroChina's shale gas in southern Sichuan reached 20.11 million cubic meters, with a year-on-year increase of 119.3 percent, it said.

The crux of their territorial dispute lies in legality, said Feng, adding, "They need to figure out in what name the two islands would be transferred."