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As of Sept 30, the company had over 3,700 customers, the largest number of financial institution customers among technology-as-a-service platforms in China.

As of April 16, Chinese procuratorates at all levels had prosecuted 166 people for producing and selling counterfeit or inferior products related to the outbreak and 21 people for jacking up prices of goods, according to data from the Supreme People's Procuratorate, the top procuratorate.

As per data from the Financial Stability Board or FSB, by the end of 2016, the worldwide shadow banking assets reached trillion, accounting for 13.2 percent of total global financial assets. It was a 7.6 percent increase from a year earlier.

As people's livelihoods improve, an increasing number of families can afford home services, providing a new driver for China's economic growth and employment, the academy's report said. The number of workers in the sector is expected to hit 50 million in 2025, it said.

As part of its reorganization, the 118-year-old company said late Friday it will be shuttering some stores. It said the stores will close in phases throughout the Chapter 11 process and details of the first phase will be disclosed in the coming weeks. Penney is the biggest retailer to file for bankruptcy reorganization since the pandemic and joins luxury department store chain Neiman Marcus, J.Crew and Stage Stores. Plenty of other retailers are expected to follow as business shutdowns across the country have evaporated sales. In fact, U.S. retail sales tumbled by a record 16.4% from March to April.