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As for business tax reform, the framework will reduce corporate tax rate to 20 percent from currently 35 percent. Pass-through businesses, such as sole proprietorships, partnerships and corporations will see their tax rate down to 25 percent.

As early as 2002, Genelec launched a representative office in Beijing, which was upgraded in 2006 into a subsidiary, Beijing Genelec Audio, to develop the dealer network and raise brand awareness.

As consumers stay at home for self-quarantine or to avoid infection amid the epidemic, they spend far more time with their smartphones. They have stronger demand to upgrade their devices that are relatively old or not performing very well, said Fu Liang, an independent telecom analyst.

As a result of local government efforts to develop businesses, including Panxiu embroidery and tourism, the poverty headcount ratio fell from 14.1 percent in 2015 to 0.26 percent by the end of 2018.

As a candidate seeking the Republican presidential nomination and now as president, Trump has said trade deficits show a loss of US power and has cited them in imposing tariffs against China and on other countries.