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Analysts said the merger will enable the State-owned giant to win more orders and gain more business in overseas cultural markets, adding that merging a relatively bigger SOE with diversified and international business interests with those with smaller assets and overlapping business might be the future direction of SOE restructuring and reform.

And today, the 40-year-old co-founder of Naked Group, a big label in the resort business in East China, is betting big on the future of co-working spaces in China, and Asia as well, aspiring to get global corporate icons out of "their ugly offices" and into his much cooler and lively spaces branded as Naked Hub.

Analysts said that the pilot program for the Chinese sovereign digital currency in select regions may happen this year, although some legal issues still need to be sorted out, such as whether the basic laws need to be revised.

An unknown number of people were also wounded during the attack at the Borderline Bar and Grill, a Country & Western venue in the Los Angeles suburb of Thousand Oaks where a crowd had gathered for a night of dancing, drinking and eating.

Analysts said to fulfill the intended results and avoid market fluctuations, rules of new board need to be designed wisely.