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"But the drag was moderate as Chinese regulatory authorities' determination and concrete measures to boost the market released last Friday have shored up investor sentiment," Hong said.

"COVID-19 once again reminds us that we are closely interconnected and we are only as strong as the weakest," Zhang said.

"By staying within the WTO framework, that's consistent with the way international trade is regulated, and it does give a high ground that they are basically following the rules," he said of the Chinese mainland and several others that have filed the WTO cases over the US solar panel tariffs. But he said the US so far has been following the rules, too.

"China attaches importance to the humanitarian assistance work carried out by the United Nations and other international agencies in the DPRK. China has been and will continue to provide necessary support and assistance," said Foreign Ministry spokesperson Hua Chunying at a daily press briefing.

"China may further loosen monetary policy and launch various measures, including further increasing the credit supply to meet the real economy's needs and further reducing its financing costs, encouraging banks to issue more loans to small and micro businesses and introducing innovative monetary policy instruments," said Zeng Gang, deputy director-general of the National Institution for Finance & Development.