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As investment rates were significantly higher in China than in other countries, many economists believed that China had been relying too much on investment to drive economic growth, which not only generated overcapacity, but also a high leverage ratio in the corporate sector. Based on this premise, China's economic downturn could be blamed on excess aggregate supply, rather than insufficient aggregate demand, hence the need to cut overcapacity and deleverage.

As one of the document's seven key elements, the guideline wants private businesses to set up and operate high-quality general clinics to provide customized care services.

As of Friday afternoon, the state has reported more than 345,000 COVID-19 cases and over 27,000 deaths, both atop the country, according to data compiled by Johns Hopkins University.

As it turns out, competing with Amazon can be expensive.

As of Thursday, 53.6 percent of the 478 enterprises in the Haikou National High-tech Zone had resumed production and 87.9 percent of large-size companies have restarted operations, according to the zone's management office.