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Ant Financial, operator of the world's leading payment platform Alipay, said in a statement that Alipay will work with WorldFirst to better serve global small businesses, promote inclusive finance and contribute to sustainable development in the world.

Another goal of restructuring is to reduce excess capacity in the steel, coal, glass and cement industries. According to Ministry of Industry and Information Technology spokesman Huang Libin, "In the first quarter, the comprehensive utilization rate of the steel segment recovered to about 80 percent, a reasonable range." Overall industrial capacity utilization rose to 76.5 percent, up by 0.7 percentage point year-on-year.

Apart from competitive markets, which can help entrepreneurs choose industries and technologies when giving full play to their comparative advantages, a company's competitive edge also requires suitable infrastructure and sound institutional environment, Lin said. That means governments should coordinate or provide relevant resources to make markets more effective.

Another user, who identified herself as the woman in the video, apologized on Wednesday, saying she loved her daughter and that she meant no harm. China Youth Daily said later that it had confirmed the apology was from the mother.