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Bert Hofman, the World Bank's country director for China, Mongolia and Korea in the East Asia and Pacific Region, said that local governments should not bail companies out or provide guarantees for debt repayment, but should let borrowers shoulder their own responsibilities instead.

Biden is ahead in national opinion polls, but races are tight in battleground states that could tip the election to Trump. Analysts said the outcome most likely to shake equity markets in the near term would be no immediate winner at all on Tuesday night.

Bemanya Twebaze, the chief executive officer Uganda Registration Services Bureau (URSB) said on Tuesday, a delegation from Xinlan Group is expected in Uganda next month to officially ink the million deal.

Besides, while industries that pollute heavily, such as auto and steel, might see a downward shift, new emerging industries that are more environmentally friendly can in some cases fill the gap, he said, adding that this is the case in the United States, where employment in the coal industry has been significantly outpaced by growth in alternative energy jobs.

Besides, German companies and other Germany-based foreign companies are more likely to hire Chinese students to expand their China businesses, Lu said.