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"Facing the grim and complex global situation, we need to further upgrade the growth model and economic structure, giving priority to the innovative development of foreign trade," Ren said.

"Discount offers are necessary to expand Alibaba's cloud market share ... It also needs further spending to fill out its original content offerings," Ella Ji, an analyst at China Renaissance Securities US Inc, wrote in a research note in April.

"Democrats, by voting for Biden over Sanders, are coming down on the side of restoring American institutions. They are voting for a revival of those institutions, not a revolution," Juan Williams, a commentator for Fox News, wrote in a piece for The Hill, a political website, published Monday.

"Demand is set to decline by amounts never before seen driven by the COVID-19 global economic shock," Kurt Hallead, co-director of RBC's global energy research unit told CNBC.

"Faced with Chairman Nadler's blatant abuse of power, and at the attorney general's request, the president has no other option than to make a protective assertion of executive privilege," White House Press Secretary Sarah Huckabee Sanders said in a statement Wednesday, referring to the House Judiciary Committee Chairman Jerrold Nadler.