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China is supplying anti-epidemic materials to countries in need so that they can resume production quickly and also continue their efforts to combat the epidemic, as certain parts of the global supply chain have been damaged by the COVID-19 outbreak, said Wang Huiyao, president and founder of the Center for China and Globalization, an independent Beijing-based think tank.

China has become a major engine for world economic recovery and growth, contributing nearly 30 percent on average to global economic growth every year, said Wang at the briefing in Geneva.

China is several months ahead of other countries in dealing with the virus, so its model of economic resuscitation after the peak of the virus will also serve as a model as other countries come out of their quarantines.

China has thousands of SOEs, but many have stagnated due to lack of competition. The government is improving their performance through a series of reforms, moving toward mixed ownership and market-oriented management.

China is already one of the world's largest markets for high-tech products such as industrial robots, chips and machine tools. The CIIE is expected to give new impetus to the country's economic upgrading and make its market more accessible than ever.