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The move also came after Huawei's consumer business posted a record billion in sales in 2018, driven by the strong demand for its premium smartphones. The company shipped more than 200 million units of smartphones worldwide last year and surpassed Apple Inc as the world's second largest smartphone vendor.

The move came following the death of Li Wenxing, a 23-year-old university graduate who got involved in a pyramid scheme through an online recruitment site and was found drowned in Tianjin, sparking nationwide rage against pyramid sellers.

The model can combine advantages of the two countries: China has a strong government, financing support, and large and efficient production capacity; Japan has rich overseas experience, developed technology and advanced risk management mechanism, according to a 2019 study by EY(formerly Ernst & Young, a global business services firm).

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The move would further solidify Futu's foothold in the US market. [Photo/VCG]

The mother says she's grateful to see her boy become more outgoing and confident.

The much more intensive game schedule was hard at the beginning but quite beneficial, Zhang said.

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The move came after the PBOC conducted 30 billion yuan of seven-day reverse repos at an interest rate of 2.55 percent and 20 billion yuan of 14-day reverse repos at 2.7 percent on Friday.

The move is based on a principle raised by the country's top financial regulators－there is no exception of any new types of financial business that can bypass the regulatory framework, and the final target is to boost the real economy, Pan Gongsheng, deputy governor of the People's Bank of China, said at a forum in Tianjin on Friday.

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The move is aimed at creating a complete system of intra-Party regulation by the time the CPC marks its centenary in 2021, and ensuring the CPC's core status in the great cause of socialism with Chinese characteristics in the new era.

The nation will accelerate the opening up of its banking sector to foreign investors and consider steps to increase the upper limit of shareholding in Chinese financial institutions by foreign banks, the country's top banking regulator said on Thursday.