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Analysts expect a sharp economic contraction in the second quarter. Unemployment is expected to spike and consumers are expected to reduce spending. Consumer spending represents about 70 percent of the US economy. A sharp reduction in spending and demand could lead to a downward spiral.

Analysts said authorities may continue to take pro-active measures to shore up the economy in the coming months.

Ancient Chinese teachings tell us that "men of insight see the trend, while men of wisdom ride it". Humanity lives in a global village where the interests and destinies of all countries are intertwined. People across the world increasingly yearn for a better life. The trend toward peace, development, cooperation and mutual benefit is unstoppable. History has proved and will continue to prove that good-neighborliness will prevail over a beggar-thy-neighbor approach, mutually beneficial cooperation will replace zero-sum game, and multilateralism will win over unilateralism.

And Zhang Rui, deputy mayor of Zhuhai, led his police officers in a rally where they took an oath, promising police across the city, which is located at the mouth of the Pearl River, will redouble their efforts to fight against crime and contribute to the construction the Guangdong-Hong Kong-Macao Greater Bay Area in upcoming years.

Analysts said the latest reports helped to ease market concerns for global oversupply.