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Analysts say Pony.ai's investment comes at a perfect time as China revs up its smart vehicle strategy as outlined in a blueprint released last week by the National Development and Reform Commission, the Ministry of Industry and Information Technology and another nine ministries.

And for the long-term, the nation will have to build a food service industry able to withstand any future public health crisis.

Analysts said home price declines are not surprising in cities which experienced fast price growth in recent years. Rising lending costs, declining yields from rentals, and stricter home purchase regulations are driving hot money away from the residential property market in these cities.

And really, that’s what matters.

Analysts said the guidelines on toll road special bonds on Wednesday－and another guideline on land reserve special bonds announced in June－were the latest moves toward standardized management of local government special bonds.