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China is also undergoing a critical stage of moving from a manufacturing powerhouse to a smart-manufacturing center, which will generate more opportunities, Yang said.

China has two options: to tolerate the anarchy or to adopt the national security law. Neither of the two is a good option in the short term.

China is no longer a weak developing economy, he said, but a significant, powerful economy that is fulfilling its responsibilities.

China is the largest buyer of cattle hides with imports of more than 1 million in 2017. More than 50 percent of the cattle hides that the US produces goes to China each year.

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.