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As the most significant tax overhaul for two decades, VAT is replacing business tax which has been in place for 60 years, streamlining procedure, and avoiding repetitive taxing. It was piloted in Shanghai in 2012 and expanded nationwide in May 2016.

As the country is turning into the world's largest market for new energy vehicles, Gestamp recognizes China will continue to become a strong pull for growth.

As the existing debt solutions involve the assignment of debt and asset disposal, Leshi has not yet received any cash paybacks, meaning the current plan cannot provide cash support to directly relieve Leshi from the financial distress caused by a lack of funds.

As the months-long border restrictions and social-distancing measures have taken a heavy toll on Hong Kong's tourism and retail industries, Lam said it's time to change, and e-commerce development will be an important part of that shift.

As the UAE is one of the favorite destinations of Chinese tourists as well as a major international transportation hub, the upcoming visa exemption measure will annually benefit about 1 million Chinese tourists heading to the country and another 3.5 million Chinese travelers stopping over there, Guo said.