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Analysts said that the stable LPR was in line with market expectations. The US Federal Reserve's rate cuts in December have eased pressure on the PBOC to adopt a similar move.

Andrew Barr, the ACT's chief minister, on Monday announced that the territory would follow Victoria in declaring a state of emergency. South Australia has declared a public health emergency over the weekend. The remaining states and territories are expected to do the same as part of a national response to the virus.

And with China's drive to become an advanced manufacturing hub, the number of innovations from the country is likely to soar.

Analysts said the figures reflect the unshaken confidence of foreign investors in the world’s second-largest economy.

And perhaps foretelling a close election, the TV ratings for the second night of both conventions were basically the same.