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As investment rates were significantly higher in China than in other countries, many economists believed that China had been relying too much on investment to drive economic growth, which not only generated overcapacity, but also a high leverage ratio in the corporate sector. Based on this premise, China's economic downturn could be blamed on excess aggregate supply, rather than insufficient aggregate demand, hence the need to cut overcapacity and deleverage.

As of Sept 28, New York City had 238,338 of the state's 460,868 total coronavirus cases, with 19,178 deaths and another 4,632 probable deaths. At least 543 people have been hospitalized due to COVID-19, and 11 people died from the virus on Sunday.

As of Saturday, the virus had claimed more than 300 lives in China, the National Health Commission said.

As of Tuesday, the market has risen for three consecutive sessions after the eight-day National Day holiday. The SCI has risen by 4.4 percent since the market reopened on Friday, with a 2.64 percent surge on Monday, the biggest rise in more than two months.

As one of the most innovative distributors globally, Also is reinventing itself as a "solutions aggregator", a radical departure from its origins as a high-volume, low-margin "box conveyor".