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Ant Financial Services Group announced today it will allow third-party financial institutions to set up virtual shops through an indigenous app, another push to vie for supremacy in the country's burgeoning online financial sector.

Anta said it and Chinese buyout firm FountainVest Partners made an indicative offer for Amer Sports Oyj of Finland, which makes the Wilson tennis rackets used by Serena Williams as well as Atomic and Salomon ski equipment.

Any form of abuse of trainees is strictly prohibited and their freedom of religious belief is fully protected. They can freely attend legal religious activities when they go home, he said.

Apart from reducing overcapacity, China has reduced market thresholds and cut taxes and fees for businesses, Li noted.

Anta introduced high-speed production lines last year, which saw its daily shoe manufacturing capacity rise to 3,000 pairs.