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"Financial regulators' tolerance of higher NPL ratios for SME loans will also motivate commercial banks' lending," he added. "The challenge is how to precisely assess SMEs' financial risks and to prevent fraud based on limited information. Utilization of big data and advanced technology such as AI may be the key."

"Fusing that through our IoT (internet of things) platform Honeywell Sentience means giving more power to the Chinese consumer, as you cannot force restaurants to clean their air by regulation, but real data does not lie."

"Harsher punishments are urgently needed," Sun said. "We decided to raise the penalty to 50 yuan for any violation, but for especially severe behavior a violator can face a fine up to 200 yuan."

"For instance, travel time from Lianyungang to Shanghai will be cut by four hours and 50 minutes to 3.5 hours," Chen Wanjun, an official with China Railway Shanghai Group, said during a news conference on Thursday.

"For the sake of those hospitalized and the frontline healthcare workers working tirelessly each day to care for them, we ask you to please stay home for two weeks and eliminate your interactions with those outside your household until we can flatten the curve."