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Despite the rebound, the level of real GDP will remain below its pre-pandemic peak in the fourth quarter of 2019, and where it would have been if steady growth had continued, said David Wilcox, a senior fellow at the Peterson Institute for International Economics, adding that the momentum of recovery has slowed.

Dollar, who was the US Treasury's economic and financial emissary to China between 2009 and 2013, cautioned that the US could lose substantially if Trump stretches the trade conflict.

Ding Changfa, deputy professor at Economics Department of Xiamen University, said as Suzhou neighbors Shanghai, the city benefits from significant spillover effects. Shanghai's strong science and education resources and modern service industries are fueling the transformation and upgrade and development of high-tech industries in southern Jiangsu province, where Suzhou is located.

Despite the worrying rise in local transmissions, Executive Councilor Lam Ching-choi told China Daily that the government hasn't considered a lockdown order banning residents from leaving their homes.

Didi's biggest advantage lies in the abundant use scenarios of self-driving technologies on its ride-hailing platform, the transportation data it has as well as the company's determination to invest in long-term growth, Cheng said.