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China is not only the largest manufacturing market and industrial market, but also carries out a lot of technological innovation. All these factors offer multinationals strong confidence to enrich their presence in China, said Peter Herweck, executive vice-president of Schneider Electric SA, a French industrial conglomerate.

China is in the midst of implementing a host of reforms, which are focused on opening up its economy to foreign competition and strengthening its private sector. They are needed to upgrade its industries and avoid the dreaded middle-income trap.

China has stressed from the beginning the need to exercise calm and restraint, prevent escalation, find out what has happened and resolve the matter through dialogue, Wang said.

China is promoting encryption techniques to go “all domestic” to insure financial security while paving the way to introduce the nation’s own digital fiat currency, according to an expert.

China has shown strong resilience in the current battle against the novel coronavirus. After the initial hesitation and chaos after the virus was found to be spreading rapidly in Wuhan, authorities quickly took targeted and decisive measures－such as the lockdown of Wuhan, reduction of human movement and mobilization of medical staff from all over the country, including traditional Chinese medicine practitioners－to improve the efficacy of the fight against the virus.