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Apart from Tencent, Alisports, the sports arm of e-commerce giant Alibaba, has also joined the party after launching the Alisports World Electronic Sports Games in March 2016, with 1,200 events planned across 15 Chinese cities. Another Chinese tech giant, NetEase, is also trying to develop an e-sports league based on its own games.

Anta group's interim results for the six months ending on June 30 saw its revenue increase 19.2 percent to .1 billion and profits up 28.5 percent to 7.4 million.

Anyone trying to claim that the Hong Kong Special Administrative Region Government's decision to postpone the city's Legislative Council election for a year is an expedient action of last resort, intended to prevent the opposition camp from achieving its goal of gaining a majority in the legislature for the first time, is doing so with an ulterior motive.

Ant Financial Services Group announced on Wednesday that 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 booming online financial sector.

Another task is to step up reforms for managing State-owned funds and enterprises, to push for the establishment of a company, which is in charge of investing and operating the State-owned capital, as delegated by the State Council. The introduction of regular rules for capital owned by State-owned financial institutions will help accelerate, streamline and centralize the fund management, said Liu.