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As per official data, 788 traditional brands surveyed by the ministry earned a total revenue of over 9 trillion yuan in 2017, up 6 percent year-on-year, while their collective profit grew by 20 percent to 765.8 billion yuan.

As investment flows into infrastructure and digital interconnectivity, the BRI addresses development bottlenecks while respecting other nations' legal frameworks, he said.

As of July 10, the bank had issued 1.02-billion-yuan loans to hard-hit areas of Anhui province to support emergency maintenance of infrastructure damaged in floods, relocation of affected people and procurement and distribution of disaster relief supplies.

As people are stuck at home, consumer demand has naturally been reduced. Together with the Spring Festival break, the catering industry, hotels, amusement parks, museums and theaters, and many industries are now in a state of depression.

As one of China's "three tough battles" for the next three years, forestalling systemic risks is being heatedly discussed by the country's lawmakers and political advisors at the ongoing annual legislative and political advisory sessions.