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By 4 pm New York time, the Dow had risen 1,086.25 points, or 4.98 percent, to 22,878.45; the S&P 500 gained 116.6 points, or 4.96 percent, to 2,467.7, and the Nasdaq Composite added 361.44 points, or 5.84 percent, to 6,554.36.

By arguing that Trump's label is "not only deliberately, but also opportunistically" using the term, Zhao said his motive is "his re-election campaign; it is a deliberate deployment of a communicative weapon of distraction to advance his own interests against all odds".

By 2020, the Beidou satellites will form a complete global satellite navigation system, Wang added.

But, in contrast to the frantic race to list comes the harsh reality of prices. Since the start of 2017, shares of most Chinese mainland tech companies in New York or Hong Kong have seen gloomy performances, with the bulk trading below their IPO prices after strong early gains.

By Feb 27, a total of 555 confirmed cases had been reported in five prisons in three provinces－Shandong, Zhejiang and Hubei. So far, no fatalities have been reported.