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As a result, the number of jobs in Australia declined by 7.5 percent between March 14 and April 18 while the wage bill paid by businesses decreased by 8.2 percent.

As a result, the urban to rural income ratio shrank from 2.73:1 in 2015－before the 13th Five-Year Plan (2016-20) was released－to 2.64:1 in 2019, according to Liu.

As a front-runner in reform and opening-up, the city used to rely on processing trade mainly for Hong Kong. After enjoying a high economic growth rate of nearly 40 percent per year from the 1980s to the early 1990s, due to limited land resources and rising labor costs, the city gradually turned its focus to developing high value added industries such as information technology, biotechnology, new materials and high-end equipment manufacturing. Now it has become a magnet for technology startups and the headquarters of famous high-tech companies such as Huawei Technologies Co Ltd, Tencent Holdings Ltd and one of the world's largest drone makers, DJI.

As UBS's Deng cautiously explained: "How markets move from here will depend on whether trade negotiations bear fruit or come to nothing."

As for investment income sources in 2019, 31 percent of respondents' income mainly comes from funds or wealth management products, and 30.5 percent from investment in real estate. The vast majority of new middle-class families have made profits from investment and financial management, but their overall returns are small, and 40 percent have a 0-4 percent return on investment and financial management, the report said.