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Amid the outbreak, nearly all meal reservations and wedding banquets have been canceled, and a large number of restaurants suspended operations, according to a report from the association on the epidemic's impact on the catering business.

Amid the transition from pursuing high-speed growth to focusing on high-quality growth, the government needs to make a number of adjustments to the economic structure, including solving the piling up of local government debts, he said. Some efforts can be taken, including reducing the size of the government balance sheet, he said.

Americans studying abroad spent .6 billion on education, according to the year cited in the IIE report. That means the US ran a trade surplus in education, one of the largest of any industries.

Among the high-profile deals was Baring Private Equity Asia's foray into the Beijing property market in April. The investment firm purchased Arca Building in Zhongguancun Software Park from Singaporean Mapletree Group for 750 million yuan.

Amid the global economic slowdown, emerging economies saw a little slower economic growth in 2018, but still maintained a relatively high growth rate compared with other emerging-market and developing economies, said the Development of Emerging Economies Annual Report released by Zhang Yuyan, director of the Institute of World Economics and Politics, Chinese Academy of Social Sciences.