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An early investor in Ofo, Allen Zhu with GSR Ventures, said Saturday at a forum continuing to burn cash to compete in the bike-sharing market is meaningless for Mobike and Ofo and only results in a huge loss, adding that mergers are a complicated process. He also said where mergers are concerned investors, entrepreneurs, shareholders and users have to balance their interests and benefits, according to Securities Daily.

An official guideline released Friday said China aims to boost the consumption of information products and services to 6 trillion yuan (0 billion) in 2020 and ensure an annual growth rate of at least 11 percent starting this year.

An innovation and entrepreneurship competition for overseas Chinese concluded in the city last week and Jiang's team's design, a battery management system for new energy vehicles, won first prize.

An expert team of four doctors departed from Guangzhou, South China's Guangdong province, on March 8, 2020 to help treat people injured in the collapse of a hotel in Quanzhou, East China's Fujian province. (Photo provided to chinadaily.com.cn)