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China has deployed a series of fiscal policies, such as easing the tax burden on firms in the most vulnerable regions and sectors, including transportation, tourism, and hotels. The tax authorities have also offered tax extensions to cash-strapped businesses, and allowed for a temporary suspension of social security contributions for firms.

China expects the association to play an active role in "maintaining the stability of regional, and even global financial markets and promoting common development and prosperity in the region", Lu said.

China has established a tight rule of law system against corruption, it said, adding that the country has improved anti-corruption institutions and resolutely fought against corruption.

China has issued 5,637 force majeure certificates as of Wednesday to protect companies from legal damage arising from the novel coronavirus epidemic, data released by the China Council for the Promotion of International Trade showed.

China has a four-tier color-coded weather warning system for severe weather, with red being the most serious, followed by orange, yellow and blue.