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"China is comparatively weak in basic research on coral resources but is catching up quickly and taking a leading position in fields such as coral reproduction, transplantation, disease control and ecosystem monitoring," said Chen.

"China is on a transition from a high speed in the past more than three decades to a medium ... growth rate in the future," said Liu, who was a member of the 13th National Committee of the Chinese People's Political Consultative Conference that drew to a close on Thursday. He has also helped draft the report Xi delivered at the 19th National Congress of the CPC.

"China hopes to cooperate closely with the Philippines to build the high-quality BRI, jointly maintaining multilateralism and promote regional development," said Chen, adding that Chongqing Municipality is also willing to share the opportunities with Philippine local governments to make new contributions by boosting exchanges and mutual learning from each other.

"By accumulating mass data, the analysis is expected to become even more reliable," Chen said.

"China has taken very dramatic actions to restrict the spread of the virus, and work is underway on a vaccine. So let's say for this quarter there will very likely be a negative impact. What would happen beyond this quarter we must observe and assess," Georgieva said.