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And 38 suspects, including a number of foreigners, have been detained after three major drug smuggling gangs were busted, according to Zheng Jun, deputy director of the Bureau of Anti-Smuggling of Guangzhou Customs.

Analyst believes the opening of access, which gives private players the equal opportunity to secure term deals and regulated prices in the domestic Chinese market, is part of China's effort in liberalizing natural gas prices, opening up access to oil and gas infrastructure and ensuring gas supply for the upcoming heating season.

Andy Cosslett, Kingfisher chairman, praised Garnier's international experience, his recognized operational know-how at a multi-national retail business, his delivery of long-term value creation, and his experience in driving digital innovation, most recently in China.

Analysts said the decline could be even deeper in the whole year, considering a high comparative base last December due to the rush to take advantage of a purchase tax discount.

Analysts at many international institutions may have reached a premature conclusion that China's external demand will shrink by more than 50 percent and the shock to the economy from COVID-19 will be more severe than the 2008 global financial crisis. Their forecasts are based on assumptions that various countries will not roll out massive stimulus packages, and that international organizations will not effectively carry out international coordination of risk management.