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"Five decades of experience in manufacturing, together with extensive experience in such key steps as raw materials processing, manufacturing of key components, injection, molding, sheet metal processing and final assembly, has equipped Midea with extensive necessary know-how in industrial internet," Zhang said.

"For the next step, we will roll out policies as soon as possible to ensure the tax and fee cuts will be put into place, and make market entities - especially small and micro enterprises - really feel the benefits," he said.

"For 25 years, owing much to the tremendous opportunities arising from China's reform and opening-up, we have kept our 'In China, for China' promise, by closely following the country's health development blueprint and joining hands with external partners to create a new win-win healthcare ecosystem in China, and have become a key player in working toward Healthy China 2030," he added, referring to the government's objective of promoting better healthcare in the coming decades.

"Given the potential for a rebound in the number of cases or level of community transmission, a low threshold for re-instating more stringent mitigation standards will be essential," the document goes on to say.

"Fiscal stimulus after demand shocks tends to be especially powerful when the economy has unemployed resources and monetary policy is accommodative," said John Bluedorn, a deputy division chief in the World Economic Outlook Research Department at the International Monetary Fund.