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As the second biggest industry in the world after oil and gas, steel production remains an indispensable link in the whole industry system, providing basic materials to downstream manufacturers and creating enough employment to stabilize the economy.

As technology giant Huawei faces the apparent rise of protectionism in Western countries, leading European industry insiders and academics suggest the Chinese company should focus on nurturing its solid ties with key existing overseas partners in order to wade through difficult times.

As the pandemic so far is far worse than most people contemplated, "it means that many of the developing countries and emerging markets will be unable to pay what is owed. The initial response of the G20 was a stay, but the stay is not enough," said Joseph Stiglitz, a professor with Columbia University and a winner of the Nobel Prize in Economics.

As the Australian government's travel ban on Chinese enters its third week, universities around the country are bracing for the economic fallout with 100,000 students left stranded in China.

As the popularity of beauty pageants declines worldwide, China has fallen in love with a different type of charm contest-dog shows. The craze has seen owners nationwide showing off their pooches, and also produced a value chain for the breeding of pedigree animals.