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"Financial institutions, especially some commercial banks, became hesitant or overreacted to the tightened regulations, thus they suspended part of their financing activities and stopped large-scale investment in nonstandard credit assets already－one of the reasons that led to the current liquidity pressure," said Wei Xing, an expert in asset management products with a domestic securities company.

"Growing uncertainties in global business settings, increased prudence by companies making investment decisions overseas, and tightened compliance reviews by regulators on overseas investments are the reason for the drop," said Gao Feng, a spokesman for the Ministry of Commerce.

"Freestyle skier Kirsty Muir won silver at the Youth Olympics, Zoe and Izzy Atkin did superbly at the X Games, and we've transferred-in a few athletes from other countries, like Charlotte Banks and Gus Kenworthy. Snowboarder Katie Ormerod is back on snow delivering medals which is amazing given her injury two years ago in Pyeongchang (a broken heel ruled her out of the Games), James Woods is world champion at slope style－I think we're looking pretty good."

"From the constant firing of officials since Trump took office to Bolton's claims in his book about the president, we can see that the internal divisions in the White House are relatively serious," Ye said.

"For us, an even more enabling environment is a necessity to focus on our main business portfolios. We welcome more measures like this," she said.