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As a branch of the Kunming International Flora Auction Trading Center, which is located in Kunming, Yunnan province, the new center encompasses an area of more than 20,000 square meters. It can provide 128 trading booths, where the scale of transactions can reach a maximum of 2.5 million flowers every day. Annual turnover is expected to reach 350 million yuan (.2 million).

As an increasing number of middle-aged people and seniors are taking their familiarity with technology from the workplace with them into retirement, many have started shopping online, including on Taobao and JD, two leading Chinese e-commerce sites.

As for the much-discussed southward flow, the bank said the timeframe depended on northbound flows and government regulations on capital outflow, which were unlikely to change in the short term given the prevailing factors.

As for the current pandemic, Yaroshenko said "the situation we have faced in 2020 shows how important it is for all countries to act together and abandon differences."

As a traditional home appliance giant, TCL has been undergoing strategic adjustments. Its consumer electronics, home appliance and intelligent terminal businesses will be split off from the listed company, as the company will shift its focus toward semiconductor displays, materials and other emerging businesses.