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As in other East Asian economies, government intervention has been an important component of China's evolution, the article said. "As Robert Wade puts it, evidence from East Asian countries shows us that the government can, in some circumstances, guide the market to produce better industrial performance than a free market."

As part of the impact of trade friction this year, China's current-account surplus may drop to less than 1 percent of GDP, a record low after it peaked in 2007, accounting for 10 percent of GDP, Yi predicted.

As of Saturday night, more than 420 cases of COVID-19 were reported in the United States with 17 deaths, according to real-time data maintained by the Center for Systems Science and Engineering at Johns Hopkins University.

As many farmers are not yet accustomed to seeking advice from lawyers, placing law practitioners nearby is quite effective in preventing impulsive crimes and facilitating dispute settlements, Wang said.

As of Wednesday, the S&P US Listed China 50 index, which is designed to track the performance of the 50 largest Chinese companies listed on US exchanges by total market cap, stood at 4,243.94, marking a 3.64-percent loss for the month-to-date returns and a 33.99-percent gain for the year-to-date returns.