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"COVID-19 has connected us and made us re-examine our responsibilities, both as individuals and as businesspeople," Yu added.

"China is of strategic importance to Standard Chartered. We are honored to be the first international bank to be granted this license," said Bill Winters, group chief executive of Standard Chartered."China is already being recognized as a major financial market. We are excited to be part of this process as we work closely to support our clients in their custody needs."

"China is a major trading partner for the UK, particularly as it is leaving the European Union, and May's visit will enhance the 'golden era' of our bilateral relations," said Li Guanghui, vice-president of the Chinese Academy of International Trade and Economic Cooperation in Beijing.

"CSP plants have great environmental benefits as a type of clean energy compared with fossil fuels. CSP plants also generate more stable power than photovoltaic plants," said Han Xiaoping, chief researcher at energy analysis website China5e.

"China has the world's most complete industrial system and has the world's largest domestic market. The industrial fundamentals in China also remain good. So we believe the impact will be controllable," Xin added.