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Apple Inc has slashed the price of some its iPhone models by up to about 800 yuan (8) for its channel partners in China after the United States tech giant lowered its revenue forecast partly due to a weak performance in the country.

As China's drinking culture has changed, Chinese consumers in general are consuming more alcohol, said Snow Chen, senior cultural strategy consultant at market research company Kantar.

As China works toward manufacturing excellence, ambition and humility are both on display. Chinese companies have a genius for devising technologies that are cheaper, more adaptable and sometimes better than Western equivalents. The deepening digital ethos is creating fertile ground for titans and startups alike to come up with novel applications while disrupting traditional industries.

As China's largest oil refiner, Sinopec Group has also partnered with mask manufacturers to expand their mask production capacity by providing them equipment and raw materials.

Argentina has already agreed with the IMF to cut its fiscal deficit from 3.7 percent of gross domestic product last year to 2.7 percent in 2018 and 1.3 percent in 2019.