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"Factors leading to the increase in M&A activity include the search of Chinese companies for overseas growth and intellectual property rights," said Feng Lin, founder and chief executive officer of DealGlobe. "And their easy access to financing."

"Durable and environmentally friendly chemical products are a key enabler for the development of many downstream industries," he said.

"Displaying photos and information of violators publicly could lead to a problem with privacy. The authorities need to attach high importance to that," another Shenzhen resident said.

"Does this virus have pandemic potential? Absolutely. Are we there yet? From our assessment not yet," Tedros said. "Using the word 'pandemic' now does not fit the facts, but it may certainly cause fear," he said.

"Extending the subsidies will help buffer the impact of the pandemic, boost car sales, increase the sector's competitive edge and finally promote its high-quality development," said the finance ministry in a statement on Thursday.