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Amid the churn, there have also been some welcome instances of big companies lending a helping hand to the small and mediumsized firms. Hong Kong-based Centaline Group, a leading Chinese property agency, has set up Yuancui Information Technology, a platform that helps small and medium-sized property agencies to leverage on its extensive resources for further business development.

Among the 21 industries surveyed, 12 were in the expansion zone, up from 9 in June, Zhao said when elaborating on the economic indicator.

Amazon’s soaring share price has increased CEO Jeff Bezos’ net worth to more than 2 billion, a new record that pushes his financial wealth back above its levels prior to his divorce settlement last year, according to the Bloomberg Billionaires Index.

Among the key points, one paragraph attracted broad attention: "China will never pursue development at the expense of others' interest, but neither will China ever give up its legitimate rights and interests. No one should expect China to swallow anything that undermines its interests." How should we understand this new stance on Chinese interests and foreign policy?

Amid the enthusiasm shown by the government and domestic technology companies for research and development of artificial intelligence, global technology giant Google announced on Tuesday the opening of its AI center in China.