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But it is unreasonable to contend that the economy will come back to normal once the peak is past, as the number of newly confirmed infections may decline slowly, given the speed with which the virus has spread.

But he added "it makes us feel safe to see no flooding around my community, and the water on the ground drained quickly, so traffic was not affected.

But in contrast with what is prevailing in most emerging market economies, he noted, the net worth of the general government in China is positive, which means the financial assets are in excess of the financial liabilities.

But in new court filings published on Thursday local time, Meng's lawyers are arguing the documents submitted by US prosecutors have been improperly tailored to support the accusation against Meng. They said US prosecutors have selectively quoted evidence, causing inaccuracies and distortions in several aspects, including the summary of the PowerPoint presentation Meng is alleged to have given to the HSBC executive.

But mergers and strategic investments have soared in the first five months, with 6 percent of funding coming from mergers and another 9.6 percent from strategic investments, up from 2.9 percent and 2.3 percent respectively year-on-year.