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Compared to developed markets, China's integrated bathroom products sector remains segmented, which means local consumers may have great demand for an efficient and environmentally friendly solution for renovating their bathrooms, Kang added.

Companies in China can apply for exclusion from additional tariffs on some US imports during a certain period, and the Chinese government supports companies importing goods from the United States based on "commercial considerations", the Customs Tariff Commission of the State Council said on Tuesday.

Companies now have a new channel to finance their Belt and Road projects as China has introduced Belt and Road bonds to fund the massive initiative.[Photo/VCG]

Compounding the dire climate, at least 30,000 new local university leavers are scrambling for their very first job amid the sharpest economic downturn in decades that has forced employers to freeze recruitment, rescind offers, slash wages, enforce unpaid leaves or lay off employees.

Conditions could deteriorate further, however, if the coronavirus pandemic worsens significantly, the regional lender said.