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"But we are also looking at more dire scenarios where the spread of the virus continues for longer and more globally, and the growth consequences are more protracted," she cautioned.

"China has made big strides in fostering a better business environment," said Sheila Xu, associate director of global business development at TMF Group, a leading global professional services firm.

"By having their brands exposed during hot sports events, companies can reach their potential consumers in a more efficient way, so as to help increase sales and expand brand influence," said Leon Zhang, partner of global consultancy Prophet.

"Centrally administrated SOEs are important backbones of China's economy. Restructuring central SOEs is, in essence, to deepen reforms, and take it as an opportunity to advance SOE reform and institutional innovation, to improve central SOE quality and efficiency, and realize economic transition," Li said at the meeting.

"Buyers are basically paying for a power battery, as the battery in an electric car is so expensive that it makes up about half of the production cost," he said in an earlier interview.