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As you might have noticed, the U.S. and China have been locked in a trade war over the last year, driven by President Trump’s insistence that 17th-century economic theories are back in vogue. While both sides remain engaged in discussions, there’s no question that business relations have suffered quite a bit following the introduction of tariffs on Chinese goods by the U.S., followed of course by retaliatory tariffs from China.

As the global economy faces a gloomy future, he said, the crisis will force the city's companies in traditional industries to dip their toes in emerging industries and make them think about how to keep their own competitiveness with advanced science and technology.

As supportive policies filter through to underpin domestic demand while the rally in international oil prices continues, the PPI is expected to recover in coming months, a CITIC Securities report said.

As to the massive trade deficits with China, they are the result of the evolution of the global distribution of industries and global value chains. China, as a main manufacturer of staple commodities, especially consumer goods, has advantages in labor-intensive industries compared with the United States.

As the most densely populated district in central Shanghai, Yangpu has 20 science and technology parks and factories with a total space of more than 100 million square feet.