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"Creditor committees have been running under the mechanisms of information sharing, collective meeting, concerted action, unified credit granting, joint prevention of risk and behavior constraint," he said.

"Citi China's FMDB license is a piece of welcoming news for many of our QFII and RQFII clients," said Harry Peng, managing director and head of prime, futures and securities services for Citi China. "We are in a unique position – as the only American bank who can offer a complete solution to international investors to invest into China, whether it's equity or fixed income, directly (QFII, RQFII and CIBM direct scheme) or via Hong Kong (Stock Connect and Bond Connect), end to end, from sales, trading, research to custody, clearing and settlement. We have the full licenses and capabilities in China on the ground."

"Confronted with major challenges to public health, no country can stand alone, nor be almighty," said Xing, who urged the international community to work together in the fight against COVID-19.

"Chinese companies need to join forces in overseas expansion, and beef up their respective advantages. They should keep away from vicious competition," he added, referring specially to a previous irrational investment frenzy.

"Chinese women's makeup favorites are lipstick and foundation.