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"Chefs have demonstrated both resilience and solidarity in recent months during the COVID-19 crisis, and their commitment impressed us at all levels," he said.

"But the yuan is not heading for any major appreciation," Yang said, citing the regulators' policy stance of further improving the exchange rate regime and "keeping the renminbi exchange rate generally stable at an adaptive and equilibrium level".

"China is fast becoming a global hub for innovation, particularly in the field of AI," said Zhu Wei, senior managing director and chairman of consultancy Accenture China, adding that Chinese companies have demonstrated great determination to digitize their organizations amid the current complex business environment.

"China and Asia can probably expect more of Trump's wild swings between rhetorical confrontation and cooperation," she said.

"China is playing an increasingly important role due to the sale of hearing solutions via private specialist stores and retail chains, he said, adding the country shows a vast potential in market penetration as an estimated 70 million people in the country suffer from hearing loss, but a mere 5 percent own hearing aids.