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Due to multiple factors, China's car sales have been falling for two consecutive years. Compounded by the COVID-19 epidemic, sales plunged 42 percent year on year during the first two months of the year.

During a telephone call on Friday with US President Donald Trump, Moon expressed his wish that the US Vice-President Mike Pence's visit to the ROK for the Winter Olympics can become a significant turning point for improved inter-Korean relations and peace on the peninsula, as he saw a possibility for the inter-Korean talks naturally leading to a dialogue between the US and the DPRK on easing tensions.

Dozens of enterprises, institutions and restaurants have contacted the startup to cooperate on the project.

During January-November period, the centrally administered SOEs made a total of 1.33 trillion yuan (1.2 billion) in profit, up 17.2 percent year on year, marking the fastest growth in nearly five years, SASAC said at a press conference.

Dong said production overcapacity can still be a problem for the Chinese economy, which will influence the performance of the A-share market.