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As the world's largest coal producer and consumer, China has been accelerating the pace of slashing excess capacity. It seeks to cut capacity by at least 150 million tons in 2017, according to the National Development and Reform Commission.

As the world's second-largest economy, the country has a huge domestic demand potential with 1.4 billion people, 1 billion smartphone users and a middle-income group of 400 million. China's digital economy stimulates new domestic consumption demand such as 5G network construction along with the two-thirds of the world's high-speed rail transportation.

As the country is mourning over the losses, US House Speaker Nancy Pelosi tweeted "the pain is made worse by the simple fact that it didn't have to be this way."

As the "one country, two systems" principle has become reality over the past 22 years, Hong Kong has maintained prosperity and stability, with various undertakings in steady development, Xie said on Thursday at the spring reception of the Office of the Commissioner of the Ministry of Foreign Affairs of the People's Republic of China in the HKSAR.

As such red packets are available on some other e-commerce platforms, Tian Chongjing, lawyer from Jiangsu Sailfar Partners law firm, said that individuals who trade foreign currency without permission are likely to be charged with illegal operation based on China's regulations on the foreign exchange system.