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China's exports to the US, such as iPhones, contain a large percentage of components made by other countries, from the US to Japan to Europe, as China has become the final assembly line of global manufacturing supply chain.

China's efforts to rapidly reduce poverty in recent years is "very respectable", he said, adding that there is a lot of work for China to do, because there are still many poverty-stricken people who must be lifted out of poverty by 2020 under the Chinese government's plan.

China's fiscal spending expanded 15.2 percent year on year to 7.57 trillion yuan during the first four months, the MOF data showed.

China's ongoing war against COVID-19 also reflects the knowledge and expertise the country has accumulated from previous experience with such epidemics as H1N1 influenza, bird flu and SARS, she noted.

China's monetary stimulus has been restrained compared to other major economies. In 2020, Chinese M2, a broad measure of the money supply, has risen at a growth rate of between 10.5 and 11.5 percent, compared to 8.0-8.5 percent in 2019.This additional money flowing into the economy is only enough to result in a mild increase in inflation in the worst case scenario.