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Pork is the staple meat in China. The country reported its first case of African swine fever in August 2018 in the northeastern province of Liaoning. Later outbreaks were reported in several other provincial regions.

Porsche's Panamera Turbo S e-hybrid vehicle is displayed ahead of the Los Angeles Auto Show in the United States last year. [Photo/Agencies]

Prasad said whether those medium-term problems can be dealt with effectively is going to depend a lot on what comes out of the NPC meetings for the next year in terms of reform of SOEs, the banking system and the financial system more broadly.

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Premier Li Keqiang called for optimizing the business environment and reducing institutional costs in order to boost market vitality and people's welfare, during a two-day tour of Shanghai.

Preparations will include stocking virus control equipment, formulating emergency plans, enforcing strict temperature-taking and implementing social-distancing protocols.

Preliminary data tracking shoppers' visits to physical stores on Thanksgiving Day and Black Friday shows a year-over-year decline of 1.6 percent, according to retail research firm ShopperTrak.

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Positive results can be seen as companies pick up production. The country's industrial output increased 4.4 percent year-on-year in May and the manufacturing sector grew by 5.2 percent year-on-year.

Premier Li Keqiang meets with Christine Lagarde, managing director of the International Monetary Fund, in the Great Hall of the People in Beijing on Sunday. LIU ZHEN / CHINA NEWS SERVICE

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Premier Li Keqiang, visiting a construction site on Monday in Chengdu, Sichuan province, talks with migrant workers after climbing up a scaffold. He asked them about their monthly earnings and the length of their workday. He also asked whether their wages are paid on time and in full. YAO DAWEI/XINHUA

Premier Li Keqiang oversaw the swearing-in of 62 officials to 39 departments under the State Council on Monday, the second such event to highlight compliance with the country's fundamental law.