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Competitors and partners coexist, and competitions and cooperation are also integrated. It's essential to enhance the competitiveness and profitability of the industry, and all enterprises can benefit from that, ultimately.

Conceding that the move would lead to economic loss and spread fear among the public, he reckoned it was necessary as the situation continued to worsen.

Collectively, RCEP represents almost 50 percent of the world's population, with a combined gross domestic product of some .5 trillion and accounting for about 28 percent of the global trade, said the report.

Confucius said: "Cold winter reveals the strength of the pine and cypress." The Confucius Institute has been able to grow despite the "cold winter" because it represents the unstoppable historical trend towards greater mutual learning and exchange between different civilisations, the driving force behind human progress, peace and prosperity. The Institute is initiated by China, but it belongs to the world. I am confident that it will serve as a bridge of friendship and better understanding. Looking ahead, the Institute can make new and greater contribution to human progress and to the building of a community with a shared future for mankind.

Compared with fast-growing online learning education entities, a physical environment involving peers and face-to-face communication is better for young people seeking to learn languages, Yang said.