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As the money flowed in, many companies have prioritized customer acquisition over profitability by offering deep discounts or free small-ticket deliveries. This has resulted in exponential expansion of the market with an annual growth rate of over 40 percent, said Eric Hor, associate partner of global consultancy Prophet.

As the class gets ready to start, homeless people cast away their belongings - coats, backpacks, Ziploc bags filled with toiletries - and organize themselves into neat rows.

As the main panel in the Senate overseeing trade issues, the finance committee's approval will be key to any trade deal.

As the first policy statement released by China's central authorities each year, the document is seen as an indicator of policy priorities. This year it urged efforts on two main tasks－winning the battle against poverty and strengthening areas of weakness concerning agriculture, rural areas and farmers, as the country strives to complete the building of a moderately prosperous society in all respects this year.

As seen in the yuan's rate against the dollar since April, the deviation between the yuan's closing rate and its central parity rate has been widening, with the closing rate most of the time weaker, said Chen. "The introduction of the 'countercyclical factor' will help reduce that deviation."