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The company also said that it is going to increase supplies before Spring Festival, which starts on Feb 16 this year. Usually the 30 days around Spring Festival and the seven-day break for the National Day in October are seen as peak seasons for consumption of high-end liquor.

The comments came after Xi, also general secretary of the Communist Party of China Central Committee, said the private economy is an essential element of China's economic system, and that "private enterprises and private entrepreneurs belong to our own family".

The companies, including Yantai north Andre juice Co Ltd, Shanxi Huhua Group Co Ltd, and Guangdong Tengen Industrial Group Co Ltd, will be listed on the A-share market, the China Securities Regulatory Commission (CSRC) said in a statement.

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The company formed a crisis management team to provide face masks and hand sanitizers, installed temperature screening in offices, and mapped out sanitizing procedures for the factory. The team had been responsible for building and restoring confidence among employees during the period.

The committee underlined the significance of financial reforms and stability and pledged to maintain a prudent monetary policy with proper countercyclical adjustments to keep liquidity reasonably ample.

The co-branding partnership is established pursuant to a licensing agreement between two partners, according to Eastman.

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The company expected its net revenue for the next quarter to grow by approximately 35-40 percent year-on-year.

The companies reported a 23.8-percent year-on-year profit growth last month, down from 31.5 percent in January and February but much faster than the 8.5-percent increase in 2016, according to the National Bureau of Statistics.

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The company also violated regulations in the design of safety facilities, Pei said.

The companies have to go through a second stage of audit and inquiry before they can be listed on the sci-tech board. [Photo/VCG]