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Another mission for the PBOC, Ming said, is to drive the interest rate of corporate loans closer to the fund rate that banks borrow from each other, also known as the interbank lending rate. That means the one-year LPR this month may be at a lower level than in August.

Anti-hair loss shampoo, the most traditional choice for those suffering from hair loss, also showed potential growth. Industry data showed that in 2018, the market volume of anti-hair loss shampoo reached 1.13 billion yuan, up 15.3 percent on a year-on-year basis. It is estimated that the market will surpass 1.5 billion yuan by 2020, and the young generation is estimated to be the main consumption power.

Ap - Afp

Apart from Kuaishou, the Su-led startup also provides two video-related apps, focusing on live broadcast assistance and short video, editing features.

Apart from consumer subsidies, 30 million yuan worth of trade-in subsidies for home appliances and 20 million yuan subsidies for household appliances sold in rural areas were allocated for this month, according to the regional department of commerce.