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"Capital market development has become more important than ever," Li said, adding that the registration-based new share sale reform lies in at the core of capital market reforms, as it will give full play to market forces in supporting innovation.

"China has been pushing the digital Silk Road and sharing the benefits brought by digital transformation," said Lin Nianxiu, deputy director of the National Development and Reform Commission. "We have signed cooperation agreements with over 16 countries in the building of the digital Silk Road, and launched the Belt and Road Digital Economy International Cooperation Initiative with seven countries."

"China firmly opposes and rejects it," he said.

"But of course, some countries are going to be hit especially hard, and some of the weaker banks might need to be resolved," he said, "furthermore, in some countries, there could even be system-wide distress."

"By participating in the CIIE, Ferrero would like to seize the opportunity brought by the market recovery, so as to further consolidate our leading position in the China market," Mauro De Felip said.