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"Consumption drives economic growth by leading investment. Economic growth can only be stimulated if consumption can be expanded to boost industrial production," said Wang Tongsan, an economist with the Chinese Academy of Social Sciences, a government think tank.

"China will provide assistance to developing countries in their efforts to combat the COVID-19 pandemic and achieve economic, social recovery and bolster development to the best of our ability through bilateral and multilateral channels," Liu said in a written interview.

"Chinese electric power utilities still find Australia an attractive investment target and will continue to seek assets there in the next few years."

"Currently we are going through one of the biggest slowdowns that we have seen in recent times," Pawan Goenka, managing director at automaker Mahindra said earlier on Wednesday after the company reported a quarterly profit.

"Compared with Shanghai and Shenzhen, Beijing started earlier and developed faster," Nie said. "Beijing has been building innovation platforms and holding innovation contests to attract big companies and talent to participate, which have significantly raised investment efficiency."