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Approximately 2.9 billion yuan of the proceeds is proposed to repay the outstanding bank loans of Sanya Atlantis, and the remaining proceeds are for the Group's business development. The Foliday board thinks revitalizing existing assets by issuing the CMBS will help improve the financing structure of the company, effectively expand financing channels, reduce financing costs, enhance financing efficiency, help provide sufficient cash reserves and accelerate the development of the Group, according to the announcement.

Around 300 people, including defendants' relatives, representatives of the victims and officials from the US consulate in Shanghai, were in the courtroom to listen to the case.

Argentina registered its first case of COVID-19 on March 3 and reported 1,498,160 infections and 40,766 deaths as of Sunday.

Apple Inc's iCloud services on the Chinese mainland will be operated by a local company from Feb 28, marking the latest push by the United States tech giant to meet local consumers' growing demand for better cloud services.

Apple added a button on the iTunes store to allow users to make Red Cross donations.