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"China's adjustment on additional tariffs is a response to US unilateralism and protectionism," the Ministry of Finance said. "China hopes the US will get back to the right track of bilateral trade and economic consultations and meet with China halfway."

"Chinese consumers prefer complex and multifunctional products, compared with those in Europe and the United States, who like simpler ones. They also prefer red," he explained.

"China's current account is now broadly in line with fundamentals," said Gita Gopinath, an economist at the IMF. "The (current account surplus) decline reflected a combination of structural factors and expansionary credit and fiscal policies, but also greater exchange rate flexibility and the associated real appreciation over the last decade."

"Chinese officials released the genome sequence of this novel coronavirus, which is helpful for diagnosis. However, having the real virus means we now have the ability to actually validate and verify all test methods, and compare their sensitivities and specificities－it will be a game changer for diagnosis," Druce said in a statement.

"China's National Day holiday, also dubbed 'Golden Week' for the tourism and consumption boom, will also see millions of Chinese hit the road for travel," he said, adding that the combined holidays will no doubt create a bigger challenge for the transport system.