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Another indicator of high-end consumption, according to Zhao, is the increase in purchases of imported commodities. This year, there is a huge demand for medium- and high-end consumer goods, so their imports will rise, she said.

Ant Financial Services Group announced today it will allow third-party financial institutions to set up virtual shops through an indigenous app, another push to vie for supremacy in the country's burgeoning online financial sector.

Anya Kamenetz is the author of The Art of Screen Time: How Your Family Can Balance Digital Media and Real Life. In an excerpt from her book published in Time magazine in January, she wrote: "Put down your phone around your own children, if you can and when you feel you ought to. But don't presume to tell me or other mothers what to do with their own lives, or lifelines."

Anji Microelectronics saw its annual income reach 248 million yuan ( million) in 2018, according to its prospectus. With the initial public offering, the company intends to seek 304 million yuan in financing, among which the majority 120 million yuan is planned to expand its polishing agent production base.

Another 12 cities followed suit, forcing the main players to consider expanding to untapped markets across the country, as well as abroad.