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Apart from the valuation effect, easing capital outflow pressure since the beginning of the year has helped bolster forex reserves, where the government's strengthening of oversight over irrational investment in other countries has played a role, she said.

Another student said nearly all 49 students in the class — mostly 10 and 11 year olds — have been beaten by Huang.

Another innovation from P&G is the "Digital Shelf", which can capture the attention of consumers as they walk by. The Digital Shelf presents personalized multimedia content to consumers, even allowing them to better understand their own skin condition. At the same time, the intelligent shelf can provide consumers with an intimate, one-to-one virtual beauty advisory service.

Apart from short-term fiscal and monetary policy reactions, China needs to carry out structural reforms to boost productivity growth by further reducing distortions such as those in the allocation of land and capital. Promoting competition and opening-up to encourage greater diffusion of technologies, and stimulating discovery through investment in R&D, including basic research, is also necessary, he said.

Another major purpose of the 0-million investment is to support the digital transformation and innovation of Chinese companies, said Dora Liu, managing partner of Deloitte China Eastern Region.