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Another strategy that Yum and McDonald's have adopted is to be more mobile by embracing digital channels for sales and delivery services. The two giants have already introduced cashless payment methods by teaming up with China's most popular e-wallet service providers Alipay and WeChat Pay.

Another economist, Anup Sinha, a former professor at the Indian Institute of Management Calcutta, expressed concern about impending joblessness. "As a result of acute uncertainties in the job market, the rising middle class with high disposal incomes is becoming weak and shaky. And that is having an effect on the demand side and the consumption pattern," he said.

Another petition in support of the new law launched by the group garnered nearly 3 million signatures in eight days.

Another federal judge in San Francisco has blocked a similar order from taking effect on the social media app WeChat. The judge cited "serious questions" about whether the WeChat ban infringed on users' First Amendment rights.

Apart from increasing the supply of rice, vegetables and edible oil in Hubei province, COFCO Group, China Resources Group and China Grain Reserves Group, which manage businesses in foodstuffs and grains, have also tightened their supervision on retailers to prevent speculations.