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As the energy required for the entire process is generated from the residue instead of fossil-based sources, the technology could reduce greenhouse gas emissions by about 95 percent compared with fossil fuels, according to Clariant.

As the home province of Confucius and an important source of Chinese traditional culture, Shandong needs to shoulder the responsibility of serving as a qualified envoy between China and other civilizations, said Liu Jiayi, secretary of the Shandong Provincial Committee of the Communist Party of China.

As the Chinese currency is not freely convertible under the capital account, the central bank has to purchase foreign currency generated by trade surplus and foreign investment in the country, adding funds to the money market.

As the government plans to introduce a mandatory national standard for both home study and classroom lighting, Lim said more Chinese schools will equip themselves with next-generation lighting products over the next three years. Signify plans to generate more sales revenue from this fast-growing area.

As the whole world is threatened by the novel coronavirus, the suspension of funding will affect all countries, including the US itself, as well as countries that are less able to contain the outbreak, Zhao said, urging the US to support the WHO in leading global disease control efforts.