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And as these buildings become more integrated with the cities around them, the divide between a city and a corporation becomes less clear.

Anbang had been one of China's most aggressive overseas buyers before authorities began to curb risky outbound acquisitions. It also has equity investment in many listed Chinese firms.

And unlike bigger rivals who are sharpening focus on drawing top-notch brands and selling bigger-ticket items, Pinduoduo targets those in lower-tier cities who are generally more price-sensitive.

And schools remain closed, with parents attempting to fill in as teachers and keep kids occupied. Rumors abound that schools might stay closed through the end of this school year or even the end of 2020. University of Washington classes will be remote for spring quarter.

And when 5G network coverage is very limited in China and no telecom carriers have officially launched 5G data packages so far, selling 5G smartphones does not make much sense. Most consumers can only enjoy 4G services even if they have 5G handsets.