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Meanwhile, these companies stand out in restructuring and research and development (R&D). New modes of businesses are emerging and the process of cutting overcapacity is making progress.

Medical AI enterprise Left-Handed Doctors launched three mobile phone products - pneumonia coronavirus testing, online consulting and home quarantine. "People can diagnose themselves via our product before going to hospital, which can help reduce the number of visiting patients, lowering the risk of cross-infection enormously," said the company.

Mei Xinyu, a researcher at the Chinese Academy of International Trade and Economic Cooperation, said the new move marked a significant escalation of the US government's battle with China for global technology dominance, especially in the information and communication technology sector where Huawei has gained a competitive advantage.

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Miao Qin has been a familiar name in China's food and beverage industry way before he started inWE Tea. As the former general manager of McDonald's China, Miao was the youngest executive of the fast food chain in China before leaving the company in 2008 and the first Chinese to take the helm.

Meridian is the top North American supplier for the magnesium radiator support structure, the Detroit Free Press reported. Fiat Chrysler Automobiles NV, General Motors Co, BMW and Mercedes-Benz also have halted or adjusted production on certain vehicles in North America due to the fire.

Memory chips are widely used in smartphones, personal computers and data servers. In smartphones, memory chips are the most expensive part, accounting for roughly 25 percent to 35 percent of the overall production costs, analysts said. South Korea's Samsung and SK Hynix are among the key producers of the crucial component.

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Meng said JD Digits, a Chinese digital technology company, has taken part in many international exchange activities, during which its foreign counterparts said the practice of digital financial inclusion in China is worth learning. The company is also cooperating with the United Nations Capital Development Fund, which hopes to introduce great business models to Africa.

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Meanwhile, the implementation of tariffs by Turkey on American goods has come into effect on Thursday, worth a total of 267 million dollars and covering 22 items, including coal, paper, walnuts, almonds, tobacco, rice, whiskey, cars, cosmetics, machinery and equipment, petrochemicals, among others.

Meanwhile, the surveyed unemployment rate was 4.8 percent, marking the third consecutive month below 5 percent. Both categories show that the economy remains resilient, he said.