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As both face pressure in operation revenue, cooperation could help each operator save 200 billion yuan in capital expenditures, Wang said at a mid-term performance news conference as reported by Sina Finance.

As crossover branding is now a hot term for many sectors across the world, Qiaodan Sports Co, the Chinese sportswear and footwear manufacturer, will integrate innovative designs and Chinese cultural elements into its products and partner with more international events to raise its popularity among consumers.

As for the novel coronavirus pandemic, he said there are stark warnings from history, which he highlighted in his book Age of Discovery: Navigating the Risks and Rewards of Our New Renaissance. The book, published in 2017, has been translated into Chinese.

As administrative and business reforms proceed in the country, new growth drivers are emerging to boost employment with a large number of newly-registered market entities, said Mo Rong, deputy president of the Chinese Academy of Labor and Social Security. The first quarter saw 1.32 million new enterprises being registered and business startups have continuously increased employment, he said.

As authorities have stepped up the fight against illegal behavior, including false statements and manipulating the market, and as small and medium-sized investors have become more aware of their rights, investor lawsuits against securities companies and their major shareholders have surged, the court said.