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As of Wednesday noon, gold prices stood at ,498.93 per ounce on the back of weak US manufacturing data. The precious metal continues to be a traditional safe-haven for investors amid economic uncertainties.

As of September, China had 106 million business entities in the market, and individuals and private entities accounted for 95 percent of the total.

As of now, the hotel is fully booked on the opening day, Xinhua reported.

As of February, the number of China's registered market entities rose to 111 million, including 35 million enterprises, according to the State Administration for Market Regulation. More than 18,000 market entities are newly registered each day.

As is the case in many countries around the world, the depth and the speed of the economic contraction brought on by the pandemic-related lockdown has meant that kick-starting growth and preserving jobs have been the main concerns of Chinese policymakers in recent months, with more stimulus flowing into areas like infrastructure investment.