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Gavin Guo, international partner of Kewei, said that they had submitted an application for the joint operation to the Shanghai Municipal Bureau of Justice earlier this year and it took them three months to get the green light.

George Magnus, economist and associate at the China Centre at Oxford University and research associate at the School of Oriental and Asian Studies in London, said: "The turnaround in China's economy back to positive annual growth in the second quarter shows that efforts to control the pandemic and spur infrastructure and construction have borne fruit."

Given that?growth, should Twitch have waited a bit longer to be acquired by a company like Amazon? Shear isn’t second-guessing that decision.

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Global oil prices have been rallying since a number of oil producing countries have voiced their intentions to cut output and US oil inventory has dwindled for seven weeks, the NDRC said.

Germany is a leading country in basic research, innovation and high-end research and development, and China has special advantages in its huge market size, vast human resources, fast-growing digital economy and innovation applications, Li said. Therefore, he said, both countries can work together more closely in innovation-driven development, particularly in electric vehicles and smart manufacturing.

General trade, which represents a longer production chain and higher added-value as the key indicator of a country's foreign trade competence, decreased by 4.7 percent year-on-year in the first five months. However, it accounted for 59.9 percent of the country's total trade, 0.1 percentage points higher over one year ago.

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Giant panda at the Chengdu Research Base of Giant Panda in Chengdu, Southwest China's Sichuan province. [Photo/VCG]

Given the slower economic growth disrupted by COVID-19 globally, many countries will face a recession this year, an unprecedented situation in modern times. This predicament will also lead to deteriorated credit quality and lower banking profits, analysts said.

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Given that the US has huge business interests in Hong Kong, its sanctions will be a case of "shooting itself in the foot".

Gary Hufbauer, a senior fellow at PIIE and a former deputy assistant secretary for international trade and investment of the US Treasury, believes the ongoing CFIUS reform is going too far.