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Approximately 50 percent of the net proceeds of this offering will be used for research and development of smart EVs and technologies, while 30 percent of the net proceeds of this offering will be used for marketing and expansion of sales channels, the company said in its prospectus.

As China's largest pilot free trade zone, Hainan is becoming a mainstay for international tourists the world over. The development of tourism on the island reflects the broader development of the industry across China, where in the past 70 years since the state's foundation, the sector has received increasing support in the form of government policy to help it thrive.

As Amazon has expanded its empire into nearly every aspect of commerce on the planet, retailers have been thinking twice about working with its cloud division. Zulily isn’t concerned, however, announcing a deal Tuesday to move “the vast majority” of its cloud computing infrastructure into Amazon Web Services.

Arroyo called for the developing world to exchange ideas and better understand the situations in other countries.

April's rebound helped Guangdong, China's biggest foreign trader, reach an import and export volume of more than 2.12 trillion yuan in the first four months of this year, up 0.8 percent year-on-year, ending the province's foreign trade decline in the first quarter, said the statement.