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Hu said the dual circulation pattern, which encourages technological innovation and industrial upgrading, is a major historical opportunity for the company. Specifically, the company plans to strengthen its layout in smart city technologies this year.

However, the debt levels of US and Chinese corporations may play a role in how willing each country is to hoard or invest, according to Liu.

However, there has been an uptick in prices as the Spring Festival holiday and the ongoing COVID-19 epidemic pushed up logistics costs and caused people to stock up on vegetables.

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However, that problem does not exist in China as the country's savings rate is one of the highest in the world, and Chinese residents want to have more financial assets, of which national debt is the safest.

Hu Siji, another professor at the university, who specializes in logistics, said the fact that maglev trains and subway trains are "two completely different systems" might be one bottleneck for the industry's growth.

However, the response so far has been mixed.

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However, some politicians and media in the United States have repeatedly blamed China for deliberately hiding information about the pandemic based on no evidence, and have used the pandemic to smear and attack China, he said.

However, the report also estimated that if the ongoing trade dispute between the United States and China escalates to an all-out trade war, both countries could see significantly lower economic growth before policy responses.

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However, the top three positions were all assumed by entrepreneurs from the United States. Jeff Bezos, president and CEO of online retailer Amazon, topped the global rich list this year with a personal wealth of 7 billion. Bill Gates was second with a net worth of billion and the legendary investment guru Warren Buffett took third place as his wealth shrunk 14 percent to billion this year.

However, the secretary general said "some of the prince's ribs were broken" and "one of his (right) leg's calf bones fractured" during the road accident.