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The industry is expected to accelerate innovation-driven development and seek new dynamics this year to advance high-quality growth and industrial upgrading, the federation said.

The increase may be nothing to the rich, but can be a heavy burden for those who are desperately poor.

The impact will be limited because China enjoys the advantages of cheap labor and materials, manufacturing capacity and environmental requirements, compared to international competitors like India and Vietnam, said Yao.

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The integration of Eurasia, or even the whole world, is accelerating, and the architecture of international relations has changed dramatically, Cherkesova said, adding media were playing a unique role during this important historical period.

The increased earnings came as several industries continued to see recovering demand and rising prices.

The injured have sought medical treatment at public hospitals, including 117 men and 96 women, according to the Hospital Authority in China's Hong Kong Special Administrative Region.

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The initiative, which has three major strands－infrastructure, trade and investment, and industrial capacity cooperation－will inject fresh energy into the world economy, said Chen Xiaochen, a researcher at the Chongyang Institute for Financial Studies, China Renmin University.

The hub, which opened in November 2018, is one of the 56 trading platforms in Shanghai that extend the services of the China International Import Expo for exhibitors to display and sell their products through the year, in addition to the expo period. It houses 176 companies from 70 countries and regions this year and showcases goods in over 10 categories including handicrafts, jewelry and beverages. Over 90 percent of the companies in the hub are also expo participants.

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The intensified push comes as many Chinese firms begin to deploy more resources and manpower globally, whether it is by looking to tap growth in emerging markets, by diversifying their global supply chains to add value, or by investing in economies related to the Belt and Road Initiative.

The income from value-added tax (VAT), which accounted for nearly 30 percent of tax revenue last month, dropped 13.8 percent from a year ago to 404 billion yuan.