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"Digitalization is changing commerce in a number of ways. We are seeing some businesses disappear or evolve over time, but at the same time the creation of new brands and types of operational modes are eliminating some traditional roles," said Sun Fuquan, a researcher at the Beijing-based Chinese Academy of Science and Technology for Development.

"Extending the transitional period as appropriate will alleviate the blow of the epidemic on the asset management sector and the pressure on financial institutions from the revamping task," said a PBOC statement, adding that the move will also facilitate financing for the real economy.

"Despite the RMB/USD depreciation, the RMB was broadly stable against the basket and depreciated in real effective terms by about 2? percent since the last Article IV. Estimates suggest little FX intervention by the PBOC (The People's Bank of China)," the report said.

"Cybersecurity is not only related to the internet but now involves national security, social security, infrastructure security and even personal safety," said Zhou Hongyi, chairman and CEO of the 360 Security Technology Inc. "In the future, there will be hundreds of billions of smart devices in various fields, and we will face unprecedented security challenges."

"Due to the company's technology-driven business, TAL's future development is still promising, though faced with stricter regulations," he said.