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The gains came even as the first reports arrived showing how badly the outbreak is hitting the global economy. In the United States, a preliminary reading on business activity in March showed the steepest contraction on record, going back to 2009. Reports were also gloomy for Europe. "Everyone was prepared for a set of shockers, and that is precisely what we got, but they are not a surprise," said Chris Beauchamp, chief market analyst at IG. "It is at times like this that the market's propensity to look forward is demonstrated most effectively." More gloomy data is nearly assuredly on the way. On Thursday, economists expect a report to show the number of Americans applying for jobless claims easily set a record last week. Some say the number could be way beyond 1 million, amid a wave of layoffs, topping the prior record of 695,000 set in 1982.

The general objectives of reform are improving socialism with Chinese characteristics and modernizing the State governance system, according to a communique issued after the Third Plenary Session of the 18th CPC Central Committee in 2013. The session featured a comprehensive reform package covering 60 tasks and over 300 reform measures.

The fund has seen a net cumulative annualized return of 4.76 percent in overseas investment since its establishment, according to the report.

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The full text of his speech is as follows:

The government will actively foster the angel investors' and venture capital companies that invest in private companies aiming at technology innovation, said the document.

The free trade port landed its first 35 key investment projects during mid-June, which included eight foreign-funded ones, as the province attracts global investors with its opening-up.

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The founder of the company, Ross Meaclem, told Xinhua on Wednesday that he was "excited" for the opportunity that the Torch program would provide his company through partnership with China, and looks forward to establishing mutually beneficial outcomes with businesses in the Chinese market.

The funding was used to buy foodstuff for new arrivals and being given to the refugees in the form of cash.

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The gigafactory, with a total investment of 50 billion yuan (.25 billion), will have a production capacity of 500,000 units in two to three years. The first phase of the factory, with an initial investment of 16 billion yuan, targets 250,000 units of Model 3 and Model Y electric vehicles annually. The CKD (completely knock down) plant will enable production as soon as possible, said the report.

The four islands used to belong to Japan, which were seized by the Soviet Union after the war and were incorporated into Russia following the collapse of the Soviet Union. Tokyo maintains that Moscow illegally occupied those islands.