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The equity transfer, when completed, will be a win-win situation, according to industry analysts.

The eWTP marked a further step by the Chinese internet giant to bet big on Southeast Asia, after it took Alipay, the mobile payment platform under its affiliate Ant Financial to Thailand and Malaysia and gained controlling stake in Lazada. It also launched its 24-hour Singles' Day Global Shopping Festival in Malaysia this week.

The drive to bring down financial institutions' leverage ratio started earlier this year. The tone was set at the National Financial Work Conference chaired by the top leadership, which underlined prevention of systematic risks.

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The event kicked off with a short presentation from Dave Isbitski, chief evangelist for Alexa and Echo, and a 6-year veteran of Amazon who recalled sitting around a table with Jeff Bezos and other execs when the Echo originally launched in 2014 with just ten “skills,” or different Alexa voice apps and capabilities.

The earlier-than-expected cut on Sept 30 could potentially inject additional liquidity of about 300 billion yuan (.3 billion) to 400 billion yuan into the system from next year, said Hong Hao, chief strategist at BOCOM International, an investment bank and a subsidiary of Bank of Communications.

The event attracted 1.6 million views including free and pay-per-view spots.

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The draft amendment to the personal income tax law is expected to be considered at the fifth meeting of the 13th National People's Congress Standing Committee held from Aug 27 to 30. [Photo/VCG]

The escalating trade dispute initiated by the Trump administration is not meant to address the trade imbalance between China and the United States, but to curb China’s technological market expansion, experts said on Sunday.

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The epicenter of the earthquake was registered 133 km southeast of the coast of Chiapas, but was felt as far away as Mexico City 700 km away, where the emblematic Angel of Independence wobbled from side to side.

The erstwhile Soviet republic and now an independent country offers exceptional conditions for growing tea. Bordering West Asia and East Europe, Georgia has warm and humid climate, balanced ecology and ample annual precipitation.