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"For the Chinese mainland, spending has been lower," the Global Powers of Luxury Goods 2017 report stated. "But demand remains steady among the middle class as they continue to buy better quality products and showcase their social status."

"Having a sister city is like having any other close friendship. You share each other's triumphs and tragedies," said Sarah Boal, assistant vice-president for BBF's Disaster Response & Strategic Initiatives. "Right now, our sister city of Wuhan is hurting and so, as Pittsburghers, we feel compelled to do what we can."

"Funding in Beijing is too little, considering the population size, which exceeds 20 million, and its 4 million smokers," she said. "Per capita funding is far below many other countries and regions, such as Hong Kong."

"Following the COVID-19 outbreak, financial conditions tightened at unprecedented speed, exposing some 'cracks' in global financial markets," the IMF said in its newly-released Global Financial Stability Report, noting market volatility spiked, borrowing costs surged and signs of strain emerged in major funding markets.

"From January to November, China's foreign trade volume totaled 28.5 trillion yuan, up 2.4 percent on an annualized basis. In addition, China's exports grew at a quicker pace than most of the other major global economies," he said.