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China is now the fifth-largest trade partner of Ireland both in terms of imports and exports.

China has two big advantages as a manufacturing power, according to the business magazine, with its industrial base unparalleled in breadth and depth, and the country's vast domestic market.

China has survived many adversities in the past decades, he said, and the short-term revenue decrease caused by the COVID-19 outbreak will be "offset by the Chinese government's fiscal and monetary stimulus policies which will revive the production cycle."

China has seen the basic needs of over a billion people met, has basically made it possible for people to live decent lives, and will soon bring the building of a moderately prosperous society to a successful completion, he said.

China is the second-biggest overseas investor in London after the United States, according to London and Partners, the Mayor's promotional agency. It said there was a 255 percent increase in Chinese foreign direct investment projects in London from 2007 to 2017.