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As the first company to file a prospectus for issuing China depository receipts, Xiaomi has postponed its application for a CDR offering, while the domestic A-share market has seen a continued downturn in the past few days.

As the Congress reshapes Trump's budget proposal, especially with the COVID-19 outbreak on its minds, US funding for the WHO will likely remain unchanged, or, if cut, it will be cut by a much smaller amount than what Trump proposed, he said.

As the COVID-19 epidemic wanes in China, the country has been introducing a string of measures to revive consumer confidence as part of broader efforts to shore up the economy.

As the largest steel producer in the world, China's top 10 steel companies account for less than 40 percent of domestic capacity, far off the goal of 60 percent if the industry wants to avoid disorderly competition, while the top four mines in the world control about 80 percent of global iron core output, he said.

As the whole world is threatened by the novel coronavirus, the suspension of funding will affect all countries, including the US itself, as well as countries that are less able to contain the outbreak, Zhao said, urging the US to support the WHO in leading global disease control efforts.