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As people continue to move to cities, their incomes will rise, driving up consumer demand. Additional infrastructure spending to support these people will also be needed.

As of July 2, 19 banks including Bank of Guangzhou Co, Chongqing Three Gorges Bank Co and Shanghai Rural Commercial Bank Co were waiting to be listed on the A-share market. By Wednesday, another four banks including China Bohai Bank Co were waiting for IPOs on the Hong Kong stock exchange.

As one of the first entrepreneurs to look into the new energy sector, Lu kick-started Wanxiang's deployment in this sector in 1999. Late last year, Wanxiang obtained approval from the National Development and Reform Commission to become a qualified electric vehicle-maker.

As noted by Shelf Awareness, Amazon decided to set up a booth at the HUB earlier this week to show off its Amazon Student program, which is designed for college students with deals on textbooks and free two-day shipping for six months.

As of Saturday, meteorological authorities had issued alerts for torrential rainfall every day for certain regions of China. Some observation stations along the Yangtze River witnessed the water levels exceeding those of 1998, when major floods killed more than 4,000 people in the country. Many are worried about another disastrous flooding year.