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"China has been dedicated to poverty reduction and has made considerable progress, having contributed substantially to global poverty reduction efforts," she said.

"But we are also looking at more dire scenarios where the spread of the virus continues for longer and more globally, and the growth consequences are more protracted," she cautioned.

"China has deepened and widened the opening-up of its financial sector by issuing licenses to foreign investors, allowing them to establish wholly owned companies or take a controlling interest in joint ventures in major business segments of the financial sector. It means that foreign investors can make better use of what they put great emphasis on－their management capabilities and management authority," said John Qu, senior partner at McKinsey, at the 2020 Global Wealth Management Forum in Beijing.

"By opening up the market, China is giving Volkswagen new business opportunities," said Volkswagen Group China CEO Stephan Wollenstein in a statement.

"But through unremitting efforts, we have overcome various problems and obtained valuable experience about how to integrate key facilities such as solar field, center tower, power block and molten salt tank," Zhou said.