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"From the current circumstance that we know, some provinces, cities and counties have implemented, or planned to implement budget adjustments" to achieve the budgeted income and offset negative impacts, such as slower profit growth in some key industries and industrial restructuring, according to a statement from the ministry.

"For Haier's household appliances that are exported to the US, the proportion of products manufactured in the local market is much higher than those produced in China. Appliances of GE, which is one of the largest appliance brands in the US and owned by Haier, are favored by local consumers in the medium and high-end market," said Liang Zhenpeng, an independent consumer electronics analyst.

"For political ethics, I took the students to CCDI (Central Commission for Discipline Inspection) website. I showed them how different it is from the US. It has a much stronger enforcement power that the US can't imagine. Then I show them an episode of the popular TV show In the Name of the People.

"For carmakers, sales matter, but IPOs do not help sales," said Yale Zhang, managing director of Shanghai-based consultancy firm Automotive Foresight.

"From its home in China, the Annual Meeting of the New Champions has grown over 12 years to become the leading global event bringing leaders from government and business together with those from science and technology. I'm proud this year to be welcoming so many Chinese and international partners, many for the first time, as we look to find new ways for innovation to address our gravest challenges and to drive human and economic development," said David Aikman, chief representative officer for China at World Economic Forum.