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Analysts noted leading Chinese online English language education companies are scrambling for cooperation deals with world-leading publishers, as it takes a lot of time and money to develop teaching materials from scratch.

And I'm proud to say that we now serve more than 7 million customers worldwide. Recent years have brought a keen focus on innovation. We'll be rolling out a new digital platform, exclusive to China, later this year. And next year, we'll be introducing our new and increasingly personalized, marketing automation platform to the world.

And at least one such base will be established in every nine cities in the Guangdong-Hong Kong-Macao Greater Bay Area before 2025, according to the implementation plan.

Analysts think something entirely different may replace the device

Analysts said the move aims to attract players for the much-anticipated launch of the new yuan-denominated crude oil futures contracts on March 26.