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"Compared with the last Great Recession caused by the 2008 global financial crisis, what makes the recession this time so 'grand' is not just in terms of how many jobs we're going to lose, but results from the fact that we're going to be led to a historical turning point in terms of geo-economics," he warned.

"China will continue with the two-way opening of its financial market. For example, there is still big room to allow more overseas financial institutions to sell onshore yuan-denominated bonds. It will help promote greater two-way flow of capital and help lift the profile of the Chinese currency in the global markets," said Xu Hongcai, deputy director of the economic policy committee of the China Association of Policy Sciences.

"Comparing it to SARS (severe acute respiratory syndrome) 17 years ago, China shows more confidence to fight the outbreak," Wang Peizhong, an epidemiologist and professor at Memorial University of Newfoundland, told China Daily.

"China will make the capital market better serve the real economy, and the capital market will not alter its direction of reform toward market-oriented and law-governed development," Zhang said.

"Chinese citizens enjoy full freedom of religious beliefs in accordance with the law," she added.