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"Deeper reforms on value added tax, commencing on April 1, will further relieve the pressure on small businesses and boost economic activity," Ng said.

"Don't worry about competitors, it's not the way you run but the way you stay good. Entrepreneurs don't cry. They make competitors cry," he said.

"Despite facing a major crisis of its own, it has given every support to the global community－from releasing the genetic sequence of the virus at the earliest opportunity, to sending medical teams to Italy. I really do hope that when this is over, it will remove some of the misconceptions and bias against China that exist in the West."

"Domestic drug manufacturing was hit hard last year and the traditional sources of drug production in key provinces, including Guangdong, were greatly curbed, causing an imbalance between drug supply and demand, and higher prices for drugs nationwide," Liu said.

"Family businesses in China should put their focus on business transformation and innovation, proactively monitor the general economic situation, invest more on people and talent retention, and even engage professional advisors to support their development," Sun said.