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As of the market close on Wednesday, US stock markets had declined about 30 percent from all-time highs reached less than a month ago. In a surprise Sunday evening announcement, the Fed announced that it would cut its target interest rate to zero and also would carry out a huge 0-billion quantitative easing program. Ordinarily, stock prices would rise in response to such a massive liquidity injection.

As of Tuesday, 72.8 percent of 8,700 surveyed major foreign enterprises have a business activities resumption rate of more than 70 percent. The rate grew by 0.9 percentage point compared with last week, the ministry said.

As of 9 am on Wednesday, a total of 1,255 flights scheduled to fly in the coming days to and from the capital's two major airports－Beijing Capital International Airport and Beijing Daxing International Airport－have been canceled, according to aviation statistics provider Flight Master.

As more products come off factory assembly lines and customers have grown appetites for new things, however, some of the traditional brands are struggling.

As part of efforts to create new economic drivers, China has been improving its service sector and rolling out measures to make it more competitive, including gradually opening up the finance, education, culture and medical sectors.