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Commenting on the 6.8 percent year-on-year drop China officially announced in its gross domestic product in the first quarter of this year, the banker said the reported January-March period was "the peak time of the (COVID-19) outbreak, but China has a robust economy and with the restart of the economic activity, the country will go back to a positive trajectory, gradually."

Competitors from France, Germany, Malaysia and Vietnam also took part.

Companies from China may find the going tough in the United States telecommunications market as national security concerns have derailed their local expansion plans, industry analysts said on Thursday.

Compared to conventional loans extended by a single bank, syndicated loans are often led by large banks and enjoy the advantages of dispersing loan risks, reducing peer competition and encouraging profit-sharing among lenders.

Concrete measure