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As of Dec 31 last year, the number of high–net-worth Chinese families with household assets of 10 million yuan (.4 million) dropped 1.5 percent from a year earlier to 1.98 million, according to the report. The number of ultra-high-net-worth Chinese families with household assets of 100 million yuan also contracted by 4.5 percent to 127,000.

As part of the trillion relief bill approved by Congress in March and signed into law by President Donald Trump, Powell must provide quarterly updates to Congress on programs created to boost the economy. He appeared Tuesday at the committee's first oversight hearing.

As it is still uncertain as to how long the epidemic will last, there are both optimistic and pessimistic outlooks in the market. But the average estimate is that the pandemic will likely last for about two years. The recovery of the world economy will go on amid the combat against the epidemic.

As of September, Chinese companies have contracted at least 136 projects in such areas as transportation, energy, steel, and petroleum chemistry in Iran, worth a total of .74 billion.

As part of the revitalization project, 50 time-honored brands, which mostly boast a history of more than half a century, will be picked and, after some key product innovation and upgrading, pushed into the spotlight of domestic shopping spots like tax-free shops, railway train stations, airports or pop-up stores at prime locations.