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"China's sound economic fundamentals for long-term and high-quality growth remain unchanged despite the epidemic," he said.

"China should stick to its policy of reform and opening-up to cope with the impact from changes in the global economy," said Zhang Yuyan, director of the CASS institute.

"Chinese consumers are shopping across seven different store types and we believe there are still opportunities for brick and mortar retailers," said Jason Yu, general manager of Kantar Worldpanel China. The key is how the retailers adjust to the changes in China and revise their store formats and accelerate digitalization.

"Chinese people's effort to contain the virus showed their remarkable strength and powerful spirit," Huang says. "We've seen many overseas Chinese join the campaign. They once left home and contributed to social and economic development of other countries. However, they have never forgotten their origin. It's a tradition of overseas Chinese."

"China's Position on the China-US Economic and Trade Consultations", a white paper report released on Sunday by the State Council Information Office, followed an earlier white paper in September. It reiterated that Beijing does not want a trade war, but is not afraid of one, that it won't back down on "major issues of principle", and that its only intention is to reach a mutually acceptable deal.