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Analysts estimate that Apple cut orders to Foxconn by 20 to 30 percent earlier this month, mainly due to weak demand for the iPhone XR and XS Max.

Ang Ziyu, a blind student from Anhui province, shot to stardom this summer for getting extra high scores on the notoriously grueling national college admission test, better known as gaokao, and landing a spot at a mainstream college in Beijing.

And now is "not the time" to let a concern about fiscal deficits "get in the way of us winning this battle", Powell added.

An opinion piece from Bloomberg published in May argued that Chinese consumers' embrace of mobile payment is key in the future development of sharing economy. China's demographic profile and changing nature of consumption are two other major factors.

And the company made it clear that it’s only getting started — telling shareholders that it will spend billion in the current quarter on initiatives related to COVID-19.