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Lei Jun, chairman and CEO of Xiaomi, said the tech company's strategic cooperation with TCL will help it to strengthen its role in the household appliances market.

Last year, those orders totaled .3 billion, the newspaper reported, and GE planned to bid for an additional billion in orders for natural-gas turbines and other power equipment over the next 18 months.

Lee said the opposition lawmakers could have committed subversion under the new National Security Law if the legislation had been in force at that time.

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Last year, the website launched an English-language platform to offer advisory services in English, answering 1,824 inquiries thereafter.

Lee said China's regulators were pretty aggressive in trying to prevent the bubble from becoming too large, something not seen in Japan or even in the United States, where policymakers just left "the market to take care" until the bubble actually started bursting.

Last year, three Chinese private aerospace companies iSpace, OneSpcae, Landspace successfully launched their rockets in April, May and December, respectively, as well as the first satellite of the Hongyan constellation, and the first satellite of the Hongyun project, which are China's low-orbit broadband communications satellite constellations, also successfully launched in February and December.

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LeEco has investments from sports rights to taxi hailing platform Yidao Yongche as well as business units focused on smartphones, online entertainment to household appliances.

Legal expert Kennedy Wong Ying-ho said changes to the law, though helpful, would have only a limited impact on curbing the unlawful practice. The main problem lies in the difficulties with gathering evidence, he said, as many posts were published through overseas IP addresses.

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Lei Fanpei, chairman of the new company, said at a ceremony in Beijing on Tuesday marking the company's establishment that the merger represented the attention from and expectations of the Communist Party of China Central Committee and President Xi Jinping regarding the country's shipbuilding industry.

Legend said the company hoped to expand its financial sector layout in Europe through the deal, and provide services to enterprises participating in the Belt and Road Initiative.