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Anker Innovations, a Changsha-based smartphone accessories company that few Chinese have heard of, recently outcompeted big-name giants including Tencent Holdings Ltd and Bank of China to grab the 10th place among the Top 50 BrandZ Chinese Global Brand Builders.

Another participant, a middle-aged woman, said housing was her first concern. "I hope the government's allocation of resources will not disproportionately favor one particular demographic, such as a certain age group or single people."

Apart from partnering with more than 100 research institutes and universities within China to push its innovative ability, the company will install automated production machines and adopt the latest environmentally friendly technologies to produce both clothing and materials.

Anthony Fauci, the top US public health expert who has led the National Institute of Allergy and Infectious Diseases since 1984, said in Senate testimony on Tuesday that the country's official death toll was probably undercounted, and warned that "the consequences could be really serious" if the country prematurely lifts lockdowns.

Another industry organization, the China Association of Automobile Manufacturers, had the same estimate. Its executive vice-president Fu Bingfeng told Reuters that the fall could reach 10 percent in the first half of the year.