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As a public company, Sanwei Group will also face penalties imposed by the Ministry of Ecology and Environment and the China Securities Regulatory Commission.

As a leading agriculture organization, the association has been a key player in China's contemporary science and technology development in agriculture, Xi said. He hailed the group as an important force in promoting the country's agricultural development after the founding of the People's Republic of China in 1949－especially since the reform and opening-up drive initiated about 40 years ago.

As a result, the takeout sector has seen explosive growth, with the number of domestic users rising by 2.6 times in just 18 months, according to the center, the national organization for online businesses.

As a global financial hub backed by the Chinese mainland, Hong Kong has been leveraging its unique advantages under the "one country, two systems" principle, Tan said, adding that the city has a flexible and stable financial system and a resilient capital market.

As cross-border shopping booms, Chinese e-commerce giants investing heavily in logistics to get closer to consumers