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"For the goods that have less impact on China's industrial production and consumption, the tariff rates are much higher, but that can effectively hit back on the US when it is necessary to levy," he said.

"For many of our members, the (cost) of the raw material could be as much as 60 or 70 percent of the cost of the finished parts," Hardy added. "So, the increase is significant."

"FinTech innovations that feature internet, big data and artificial intelligence are exerting profound influence on capital markets," said Huang Wei, assistant chairman of the China Securities Regulatory Commission, at a forum.

"From the central government to different levels of local governments, and to industry, people are very keen to develop China's own innovative drugs."

"For this to work, we have to have like 90 percent of people wearing a mask in public in the hot spot areas," he said. "If we don't have that, we will not get control of the virus."