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"China is ramping up efforts to minimize the impact of the outbreak and create a comprehensively well-off society," Li said at a news conference on Tuesday.

"China holds the promise to become a primary source of many next-generation medical technologies. Medtronic is determined to capture the opportunity through continued investments in local R&D capabilities and technology partnerships, as we believe technology has greater potential in addressing unmet medical needs - which will therefore drive our business presence," said Gu.

"But of course, the medical and public health professionals were not allowed to proceed unchecked," he said, referring to President Donald Trump's frequent undercutting of his own experts.

"But, the improvement has been limited. Investors are still concerned about default risks of private enterprises," he said.

"China is expected to grow in the next quarter, as Oppo, Vivo and Huawei have launched new flagship devices with the aim of exciting the market once again," Jia said.