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China's economy grew 6.9 percent year on year in the first quarter, the fastest pace since the third quarter of 2015.

China's dairy giant Mengniu announced on Monday it had made an acquisition offer to Australian infant formula producer Bellamy in a deal valued at billion, to further penetrate the infant formula and food market while expanding its reach overseas.

China's other major foreign traders include Beijing, Zhejiang, Shanghai and Jiangsu with respective export and import volumes of 4.3 trillion yuan, 4.1 trillion yuan, 3.7 trillion yuan and 2.8 trillion yuan in the previous year.

China's financial system has great potential in helping stabilize the economy, a previous China Daily report said, adding that the country will deepen supply-side structural reform in the financial sector and strengthen the sector's ability to serve the real economy.

China's leading medical artificial intelligence startups are helping medical workers on the frontline deal with the novel coronavirus outbreak, using medical imaging devices embedded with AI for clinical diagnosis of the disease.