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"Compared with the last Great Recession caused by the 2008 global financial crisis, what makes the recession this time so 'grand' is not just in terms of how many jobs we're going to lose, but results from the fact that we're going to be led to a historical turning point in terms of geo-economics," he warned.

"China will not force any technology transfer from any foreign company and will enhance efforts to protect intellectual property rights and severely crack down on infringement, and China welcomes more globally competitive businesses to share the China growth opportunities," Li said.

"China's internet insurance industry is still nascent," said Tuo Guozhuo, professor of the Insurance Department of Capital University of Economics and Business.

"China will continue to strengthen Pakistan's capacity to fight this pandemic," he said.

"China's growing middle-class has more money to spend, particularly on high-end, nutritional dairy items," said Song Liang, a senior independent industry analyst.