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"China's National Development and Reform Commission set a minimum domestic production target of 200 million tons for 2020 in the 13th Five-Year Plan (2016-20). Achieving that target requires a 2.8 percent yearly growth in 2019-20," she said.

"Currently, private businesses create 80 percent of China's jobs, but only share 20 percent of the social resources. The president's speech shows that the private sector is an important part of China's economy and the country will continue to support the development of companies in the private sector," Dai said.

"China, Japan and South Korea took different approaches in dealing with COVID-19, and they can share lessons with ASEAN," Pitlo said. He also welcomed the planned signing of the RCEP, saying that a new free trade agreement like the RCEP can help economic recovery.

"China's financial sector de-risking accelerated with a wide range of decisive measures adopted; credit growth slowed; overcapacity reduction progressed; anti-pollution efforts intensified; and opening up continued," according to a statement issued by James Daniel, assistant director of the Asia and Pacific Department of the International Monetary Fund (IMF), after the IMF annual Article IV review of the Chinese economy.

"Compared with the traditional scanner, the new one is more sensitive," he said.