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Despite the more than 20,000 confirmed cases of novel coronavirus in the world, mostly in China, the number of those infected in the US is small－only 12 as of Wednesday: six in California, two in Illinois, and one each in Massachusetts, Washington state, Arizona and Wisconsin.

Delegates from China and other countries hold business discussions at this year's Texworld USA, an international textile exhibition, in New York, in July. [Photo / Xinhua]

Despite political instability, climate change and technological breakthroughs affecting the global economy, Volvo's internal efficiency and a good balance of products will help it adapt to this changing landscape and support China's world-renowned construction projects, including the Belt and Road Initiative, said Jernberg.

Delegation leader Lyv Wei, deputy director-general of the province's department of commerce, said her members resembled the actual economic composition in Shandong — a stable, moderate and competitive business climate that cultivates not only traditional sectors such as food, metallurgy, textiles, household appliances, chemicals and construction materials, but also emerging sectors including automotive, high-speed trains, marine science, electronic information, biopharmaceuticals and new materials.

Despite the general price increase in both new and pre-owned residences, home prices grew at a slower pace on average, especially in the second-and third-tier cities.