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As the China's economy was facing new challenges amid the coronavirus outbreak, iQiyi's online advertising services decreased 27 percent year-on-year to 1.5 billion yuan in the first quarter.

As the new threshold of personal income tax, raised from 3,500 to 5,000 yuan per month, is set to take effect on Oct 1, the State Council said on Thursday it will also hurry to set a clear scope and standards for six special expense deductions to ensure the threshold is significantly higher than 5,000 yuan, according to a report by China Business News.

As the COVID-19 pandemic hammers a growing number of countries and the world faces a shortage of medical supplies, Chinese drug and medical equipment manufacturers are working round the clock to produce as many products as possible to ensure a stable global medical supply chain.

As the new year starts, companies, especially those in the chemical and energy sector, are facing a new type of green tax: firms that cause pollution will be taxed under a uniform set of national rules instead of the previous fees collected at the local level.

As the world's biggest spenders, Chinese mainland tourists spent 1 billion in 2016, accounting for nearly 21 percent of the world's tourist consumption.