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"Global cooperation is ever so important to deal with a truly global crisis," said Gopinath, who warned that geopolitical and trade tensions could damage fragile global relationships at a time when trade is projected to collapse by around 12 percent.

"Four rescue teams involving 144 professional rescuers were dispatched to join in the work," Wang said.

"Fresh-cut peony flowers are gaining popularity among foreigners as gifts. Some peony seedlings being exported were planted in local courtyards," said Fu Zhenglin, chairman of Luoyang Shenzhou Peony Co Ltd, a major flower growing enterprise.

"Hasbro will have no choice but to pass along the increased costs to our US customers," said Brian Goldner, CEO of toy company Hasbro. He said the Pawtucket, Rhode Islandbased company, the maker of popular products such as Monopoly and GI Joe, was working to reduce its reliance on manufacturers in China, but he also said it has built up extra inventory, incurring additional storage costs, as it braces for tariffs.

"For 2019, we see another year of volume growth as we continue to benefit from our strong product program and increased capacity," he added. "But we have to be realistic and acknowledge that margins will remain under continued pressure."