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"China's new direction, further reform and openness, will certainly bring more opportunities to Schneider Electric. The opportunity is mainly in areas including green city development, industrial automation and Internet Plus-related businesses," said Jean-Pascal Tricoire, Schneider Electric's chief executive officer.

"Compared with previous policy tools, the newly-developed instruments are more market-oriented, inclusive and direct," the central bank said.

"China's uniquely advantageous position on the global economic stage is incomparable. The country offers an enormous wealth of hard-earned experience as well as technology that can be shared and transferred among developing countries," said Rachel Duan, president and CEO of GE China.

"Considering that some Cabinet members we engage with regularly have been exposed to individuals who were tested positive of COVID-19 and have decided to undergo self-quarantine, it is just prudent for us to take precautionary measures in compliance with the advice of our health officials," Presidential Communications Secretary Martin Andanar said in a separate statement.

"Courts or data regulators in the UK, France or Germany should not be able to determine the search results that internet users in America, India or Argentina get to see," he said. "It is not right that one country's data protection authorities can impose their interpretation on Internet users around the world."