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Competition for asset managers has intensified as foreign investors join the market. International investment funds such as Blackstone are moving into the market in search of real estate projects, Chan said.

Combined profits of industrial firms with annual revenue of more than 20 million yuan (.98 million) stood at 708.01 billion yuan in the first two months of 2019, the NBS data showed.

Commerzbank says it settles around 30 percent of Germany's foreign trade business.

Companies in the automobile supply chain have suffered widespread shutdowns and reduced production capacity during the pandemic, leading to an imbalance in the supply and demand of many raw materials and parts. On top of this, a rise in transportation costs has pushed up prices of components and parts.

Communications were disrupted in 3 towns and 878 villages.