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As far as sheer transaction volume is concerned, no shopping festival in the world comes close to China's Nov 11, or Singles Day, which falls on Wednesday this year.

As a result of the abundant supply and market corrections, the estimated value of the convertible bond market is at historically low levels, analysts said. So far, 10 of the 35 subsisting convertible bonds have fallen below their issue price, and investors' enthusiasm for participation in the market is cooling off.

As downstream steel user purchases remain weak, the country's overall steel inventory is still high although transactions among trade enterprises have revived, Ge said, adding that steel inventories in 29 key cities were 21.52 million metric tons at the end of March, up 0.9 percent month-on-month and 52.7 percent year-on-year.

As a result, even though some countries do not buy products directly from Huawei, they still use the essential patents of Huawei, and share in the benefits of the technology Huawei creates, the company added.

As a master's graduate from Peking University, rated as the country's top tertiary institution, Zhang said some people have taken a bleak view of his career, criticizing him for wasting his education to sell noodles.