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Apart from enabling governments to quickly expand social safety nets, fintech can also increase transparency, reduce the risk of corruption and avoid unnecessary contact, all of which will help fight the pandemic, she said.

Apart from issuing vouchers and offering cash grants, the government should also stabilize the job market for low-income earners, expand coverage of unemployment benefits and encourage the development of small-scale consumer loans by giving full play to internet companies and online banks, Gan said.

Ant Financial was a leading sponsor of a cashless alliance set up in April. The company earlier vowed to make mobile payment accessible in the whole country in the coming five years.

Apartments adjacent to high-quality public schools conventionally carry a higher price tag in China. But Chinese parents are willing to pay even more if necessary for similar conveniences in other countries. That's because overseas residential properties can also generate steady returns on realty investment, according to industry insiders.

Announced from its global headquarters in Milan at the beginning of the year, the new project has taken the brand's collaborative genealogy to a new level by bringing in eight designers to introduce eight capsule collections at the same time.