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Analysts said that the emphasis on flexibility and a targeted approach in monetary policy underscored the government's intention to inject more liquidity to support the epidemic-hit economy, while it remains very cautious about excessive easing that could lead to a steep rise of asset prices in the capital and property markets.

Analysts said this a reflection of the overall weakening economy, but profit growth of those firms may gradually pick up starting from the second quarter as the country's supportive policies take effect.

Andrews also revealed that two men in their 80s had died after contracting the virus, taking the national death toll to 113.

And if there's one thing corporations like, it's endorsers they can bank on.

And 56.9 percent of the AI companies in Beijing have not completed A-round financing, indicating that most are still in the start-up stage with potential for further development.