Canalys told Bloomberg that Apple's market share in China plunged to just 5% during the second quarter, down from last year's 9%.

The Smartphone-like network of switches would be offered by Huawei in October to boost its market share and challenge its rival, Cisco.

Xiaomi Tech has overtaken Apple's market share in China with 0.2% lead. Xiaomi Tech, a Chinese smartphone manufacturer, has already surpassed Apple's market share in China.

According to analysts, Apple should focus on the growing smartphone markets like China and India. Canalys, a research firm, said China and India were important countries that Apple needs to focus in terms of growth in the smartphone market.

Shanghai Tower's top beam was recently installed and now the interiors are to be completed. The tallest building in the financial district of Shanghai and all of China is nearing completion.

According to data by the Financial Supervisory Service, Chinese investments in South Korea's local securities increased 42 times since late 2008.

Data from Private Equity International and Thomson Reuters revealed that private equity companies are now Asia's new bankers.

The General Administration of Quality Supervision, Inspection and Quarantine announced that BMW Brilliance Automotive Ltd will recall 143,215 vehicles for electric power steering system problems.

Luxury wine brands said they will be investing in China. Big names in the wine industry such as Chateau Lafite-Rothschild and Dom Perignon announced today that they will pursue investments in China's rural areas.

China's top decision-making body said that it will work to ensure the growth of its economy. The Politburo, China's top decision-making body, declared that it will ensure the growth of its economy.