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"Chinese entrepreneurial ecosystem is huge as most valuable AI companies in computer vision, speech recognition, drones are all Chinese companies today," Lee added.

"China's vision to promote FTZs will play a huge role in attracting foreign capital. The country's economy will be more tenacious with a stable growth on foreign capital and trade, sound infrastructure, labor force and other industrial matching abilities," said Huo Jianguo, vice-chairman of the China Society for WTO Studies.

"China should maintain equilibrium in indicators of growth, employment, prices and international balance of payments," Yang said. "Industrial modernization should be promoted, with intelligent production and core technology."

"Chinese companies engaged in cross-border e-commerce sector should actively build a global supply chain and maintain flexible supply of goods," said Shen, adding more efforts are needed to support various foreign trade enterprises to cooperate with international e-commerce platforms.

"Countries in East Asia and the Pacific that were already coping with international trade tensions and the repercussions of the spread of COVID-19 in China are now faced with a global shock," said Victoria Kwakwa, Vice President for East Asia and the Pacific at the World Bank.