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"China should further streamline VAT brackets to encourage fair market competition, which in a sense reduces taxes for many enterprises," Liu said.

"Construction of transportation projects is key to the economic growth, thus, we will step up the work resumption in good order," he said. "On Tuesday, the ministry released a notice to guide local governments and companies on resuming work."

"Chinese brands will step further onto the global stage with their products, technology, management and investment, which will bring benefits to people across the world," he said.

"Consumers are becoming more selective about the products they purchase, and tend to buy products that have more practical uses," said Emily Cheng, general manager of Honeywell Connected Living Solutions China.

"China's swelling middle-income group has rising demand for domestic cleaning, home security and surveillance robots," said Luo Jun, CEO of the Asian Manufacturing Association.