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"Cash flow problems are forcing some SMEs in property to sell off some of their projects, or offload equity stakes, and sometimes sell out totally."

"China has no intention of changing, still less replacing, the US. It's time for the US to give up its wishful thinking of changing China or stopping the 1.4 billion Chinese people's historical march toward modernization," he said.

"China is still 100 percent a developing country," he said. "Regrettably, some countries are taking China's positioning of developing country to make a fuss."

"China has achieved over 60 percent urbanization. The figure will reach 70 percent to 80 percent in the future, and the cities' size will only grow bigger and bigger, presenting challenges in their management and operation," he said.

"China continues to create an open, fair, just and non-discriminatory business environment, offering more opportunities to the world, thus helping stabilize the unsettled global economy amid the COVID-19 pandemic. This is a key factor for global companies to find the Chinese market attractive," said Quan Heng, secretary of the leading Party members' group at Shanghai Federation of Social Science Associations.