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DCE will also further optimize the internationalization of iron ore contracts, including providing better options for investors regarding issues such as deposits and currency exchanges, Wang said.

Cutting-edge technologies are making life more convenient, and upgrading one's home with the latest such technology has become a new engine driving China's economy. More and more affluent consumers are pursuing a smarter, high-end lifestyle, which has given a big boost to the smart home market.

Cui Dongshu, a senior researcher with the China Automobile Dealers Association's research institution, said the rapid growth of CATL can be attributed to the growing domestic market demands for power batteries.

Currently, the group is operating 174 container liner routes (1.61 million TEUs) in countries and regions related to the BRI, accounting for 58 percent of COSCO Shipping's total container capacity. As many as 12.15 million TEUs of containers were handled by COSCO Shipping in the BRI region throughout 2018, up 9 percent year-on-year.

Cuomo said his concern about increased spread of the virus would not impede the state's regionally phased reopening, which is set to allow New York City to open on Monday with limited economic activity.