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As of the market close on Wednesday, US stock markets had declined about 30 percent from all-time highs reached less than a month ago. In a surprise Sunday evening announcement, the Fed announced that it would cut its target interest rate to zero and also would carry out a huge 0-billion quantitative easing program. Ordinarily, stock prices would rise in response to such a massive liquidity injection.

As part of the agreement, Tianjin will serve as a research, manufacturing and testing base for JD’s smart logistics technology including robots, drones, and autonomous delivery vehicles.

As of now, the Beijing-based company has provided nearly 4 million medical care and community services in China, Latin America, Australia, Japan and Russia during the epidemic, Liu said.

As of the end of last December, Yili had 1.91 million offline liquid milk points of sale (POSs) in China, a 9.1-percent annual increase from the previous year, and about 1.04 million POSs in rural towns and villages, the company said.

As of May 2, there are more than 10,000 companies issuing 170,000 VAT invoices using the new rates in Yunnan, involving more than 2.54 billion yuan and with taxes exceeding 349 million yuan.