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Despite negative impacts of the COVID-19 pandemic, Guo said he remains confident in the Chinese market, with the emerging 5G applications that have sped up development amid the pandemic to help counter the economic losses to a large extent.

Denouncing the "burn with us" mentality in Hong Kong and terming the protest violence as "political virus", the spokesperson said such radical violence has caused extensive disruptions, leaving profound adverse impact on the society. The radical force has become the biggest threat to the city's stability and prosperity, it added.

Derksen said he did not want to be shackled to an office job. So the couple trained their sights on Shanghai with a desire to "make something bigger than working for other people".

Despite lackluster consumption growth at home and abroad, one in every five small shops surveyed by LST reported they have bucked the trend and witnessed positive revenue growth. Average daily revenue surpassed 7,000 yuan, as compared with the 3,000 yuan to 5,000 yuan range for average offline stores.

Despite opposition from business groups and trading partners around the world, US President Donald Trump on March 8 signed proclamations to impose a 25-percent tariff on imported steel and a 10-percent tariff on aluminum.