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Ant Financial Services Group has appointed Simon Hu, former head of Alibaba Cloud, as its president, the latest follow-up in Alibaba’s organizational restructuring announced three days ago.

Apart from the competitive ruble, close cooperation between China and Russia has provided a boost to the food sector.

Another, who handles local corporate debt applications, said the regulator seems to have been getting stricter in processing application materials since late last year as it increased efforts to curb risks.

Another noticeable trend is that a growing number of private companies are going global and they are increasingly taking the lead in technology innovation, whether domestically or internationally. Apart from serving their European clients, China's private companies are leading some big changes in their industries after they expanded into Europe, he said.

Apart from smart jackets, safety devices to be developed under the deal also include intelligent eye sensor, automatic explosive and drug detection device, Nuctech cross-sectional scanning device and intelligent security fence.