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Another two high-profile arrests in recent years are also good examples of how technology could lead to breakthroughs in criminal investigations, according to Ji.

Another fresh food delivery app Missfresh has seen its orders surge by 300 percent year on year during the epidemic outbreak, according to Wang Jun, CFO of the company.

Apart from heightened competition with newcomers to the financial sector, banks are also facing challenges such as narrower net interest margins and financial reforms highlighting the regulatory prohibition of the conduct of multitranche channel business.

Another major purpose of the 0-million investment is to support the digital transformation and innovation of Chinese companies, said Dora Liu, managing partner of Deloitte China Eastern Region.

Apart from telecommuting, distant education is another focus for IT companies. iTutorGroup, the smart education arm of Ping An Insurance (Group) Co Ltd, opened its online study platform for free. The platform enables students across China to learn effectively at home.