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"During the second quarter, the onshore spot rate of the renminbi against the greenback is expected to hover around the current 6.7 without any big fluctuations," said Mei Dongzhou, an associate professor from the Beijing-based Central University of Finance and Economics. "It may even head for 6.6, as previous appreciation themes should continue."

"Even if we are faced with increasing challenges, we believe in the opportunities offered by the market," he said.

"Donald Trump has waved the white flag, abandoned our families and surrendered to this virus. But the American people never give up, never give in," Biden said, calling Trump's rally a "super-spreader event".

"Expectations for future activity also fell to their lowest level since late 2014, as most firms do not expect energy prices to return to profitable levels this year," said Chad Wilkerson, economist with the Federal Reserve Bank of Kansas City.

"Each line's annual output value can reach about 100 million yuan, but small factories can't afford automated facilities so they have come under great pressure. They are now more likely to look overseas because the export business hasn't been affected by automatic lines. Different importers have different requirements and the orders are usually small, which makes the use of automatic lines difficult," Liu said.