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"By improving judicial efficiency, companies heavily in debt can be cleared from the market as quickly as possible, and those that still have value in the market can be rebuilt more quickly," Liu said.

"China has never resorted to competitive devaluation," said Sheng, deputy head of Shanghai-based CEIBS Lujiazui Institute of International Finance. "The market plays the main role in determining the exchange rate of the RMB."

"COVID-19 causes more severe disease than seasonal influenza," Tedros said, adding "while many people globally have built up immunity to seasonal flu strains, COVID-19 is a new coronavirus to which no one has immunity".

"China is willing to share what we found with the world and work for our shared future," he said.

"By the end of December last year, the channel had almost 20,000 visits, and we have helped more than 17,500 workers in 1,600 cases to recover their defaulted payments," said Shi Hansheng, deputy director of the public legal services administration of the Ministry of Justice.