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But the market drop worsened Tuesday following reports that the coronavirus continues to spread. Countries including South Korea, Switzerland, Italy and Austria reported new infections. The number of infections remains low, and the World Health Organization said it's too soon to call the outbreak a pandemic.

But the industry was already growing strongly before the pandemic. In the first half of 2019, more than half of Chinese internet users had used online audio apps, among which active users of livestreaming audio content had reached 46.2 percent. Nearly 90 percent of users who participated in livestreaming audios were willing to pay, according to iiMedia.

By Monday, 183,800 had been relocated to safer areas.

By 2017, it had 35 aircraft in operation, mainly Bombardier CRJ900NG and Airbus A320 models. Some 77.5 percent of its flights were punctual, according to the company.

But the impacts will be short-lived and controllable, as the spread of virus has been curbed and fundamentals of the Chinese economy remained solid, Mao said.