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As long as information asymmetries among participants continue to exist in the IPO process, we will continue to observe underpricing in China, the United States, and other markets around the world.

As more elderly people surf the web, they are also encountering a wider range of online functions and increasingly using them, according to the survey, which focused on those aged 50 and older - people defined by researchers from the academy as elderly.

As part of China's core traditional values, thrift has been enshrined in clauses in the Constitution and upheld by legislation including the Agricultural Law and the Civil Code enacted in late May.

As one of the eight states that enjoy trade surplus to China, Oregon's exports have expanded 55 times during the past 20 years and reached billion annually. That has helped create more than 20,000 local jobs and brought substantial profit to Oregon companies, especially integrated circuit manufacturers, timber producers and hazelnut farmers. Meanwhile comparatively cheap, quality products imported from China have not only helped Oregon maintain a relatively low inflation rate but also improved real purchasing power of local customers.

As part of efforts to further lower prices, the average broadband service rate for small and midsized enterprises will be cut by 15 percent this year, with the average rate for mobile internet services down by more than 20 percent, the statement said.