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As a front-runner in reform and opening-up, the city used to rely on processing trade mainly for Hong Kong. After enjoying a high economic growth rate of nearly 40 percent per year from the 1980s to the early 1990s, due to limited land resources and rising labor costs, the city gradually turned its focus to developing high value added industries such as information technology, biotechnology, new materials and high-end equipment manufacturing. Now it has become a magnet for technology startups and the headquarters of famous high-tech companies such as Huawei Technologies Co Ltd, Tencent Holdings Ltd and one of the world's largest drone makers, DJI.

As daily new cases skyrocket, hospitalizations are rising, too, and deaths, which lag furthest behind those other indicators, are ticking up.

As a result of deleveraging policies, growth of China's broad measure of money supply M2 slowed down in June from 9.6 percent growth recorded a month ago.

As deleveraging remains one of the policy priorities this year to crack down on financial risks, new regulations have been launched this year including rules on bond repos and negotiable certificate of deposits, which economists worried could lead to another round of bond sell-offs, as the market rates and bond yields may continue to rise in the near term.

As a result of the commission's affirmative determination on Friday, the US Commerce Department will continue with its antidumping (AD) and countervailing duty (CVD) investigations, with its preliminary countervailing duty determination due on or about Feb 1, and its antidumping duty determination due on or about April 17, the commission said.