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"Destocking will become harder in lower-tier cities where the process is yet to be completed and which are witnessing more population net outflows," Xie said. "Once the scrutiny process becomes harder, the sales volume will slow."

"Early prevention and containment of the spread of the disease has contributed to a desirable prognosis for the patients. The rate of coronavirus cases who have recovered and been discharged from hospitals in Shanghai has exceeded 80 percent, and the mortality rate is less than 1 percent," he said.

"Even though the world's shipping market has limped along since 2009 because of weak demand, the Belt and Road Initiative can effectively offer a lifeline to ailing global shipping companies," said Dong Liwan, a professor at Shanghai Maritime University.

"Designation was blatant/errant political act," Sobel tweeted Monday.In a recent statement, the People's Bank of China, the central bank, said China will continue to let the market play a decisive role in exchange-rate formation and keep the renminbi's exchange rate generally stable at a reasonable and balanced level.

"Everyone, government officials and businesspeople, understand that industry has to upgrade. If you don't upgrade, you will be expelled from the market. If you upgrade, it may bring some hurt. But, if you don't upgrade, the only question is whether you die early or die late."