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Consumer spending has also continued warm in the capital. From January to August, the decline in total market consumption in the city narrowed by 0.7 percentage points compared with the January to July figure.

Covid-19 has spread to more than 210 countries and regions, affecting more than 7 billion people, infecting over 13 million people and claiming over 560,000 lives. It is the gravest global public health emergency after the Second World War. It poses severe challenge to the safety and health of mankind, and requires the joint response of the international community, including China and Europe.

Contrary to some US politicians' despicable practices of threatening to sever chip-related supply chains amid the pandemic, China has been scrambling to help local factories of international companies resume production to help stabilize global supply chains.

Cons: “Top heavy, everyone trying to get to high level jobs instead of doing their jobs. Higher levels taking credit for work done by their employees. Very internally focused, MS competes more internally than it does externally.”

Consumption has been supported by low unemployment and steadily rising incomes, while the shift from the business tax system to the value-added tax in 2016 is supporting the outsourcing of services and the development of the sector, it said.