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Analysts at many international institutions may have reached a premature conclusion that China's external demand will shrink by more than 50 percent and the shock to the economy from COVID-19 will be more severe than the 2008 global financial crisis. Their forecasts are based on assumptions that various countries will not roll out massive stimulus packages, and that international organizations will not effectively carry out international coordination of risk management.

Angela Wang, the owner of a decade-old hair salon in Flushing, said one-third of her regular customers used to be non-Chinese, but two days after her employees started wearing facemasks, these clients all stopped returning. There has also been a significant drop in the number of her Chinese customers.

And more than 120,000 Kenyans have traveled to Guangzhou since 2015.

Analysts said Alibaba's profit may have dropped due to the group's diversification that required investments in new business segments like media, entertainment and cloud computing.

An online forum on how to upgrade innovation and entrepreneurship education in colleges and universities was held by Tsinghua X-lab, a university-based education platform designed to foster student creativity, from June 20 to 21.