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Chen Shihua, deputy secretary-general of the CAAM, said the pandemic in overseas markets was hurting Chinese carmakers' sales as well. He estimated that vehicle exports will drop by 200,000 units this year, from about 1 million in 2019, as the coronavirus erodes global demand.

Chen Jiadan in Fuzhou contributed to the story.

Chen Yidan, who launched the foundation, said: "China has entered a golden era of philanthropy. The environment is good for the development of donations, as the country has continuously improved related laws and regulations."

Chen Hang, an analyst from Southwest Securities, said the home appliances business is regarded as an important part of Xiaomi's artificial intelligence and internet of things strategy. Its cooperation with TCL will help Xiaomi to stabilize supply and diversify its product portfolio, Chen added.

Chen Li, a student at Dongchen District Senior Citizens University in Beijing, said she failed to enroll at the university last year, but managed to find a seat this year.