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"China's ability to overcome the current crisis and continue with long-term plans will demonstrate national resilience," she said.

"Cutting fees is just as important as cutting taxes. But because there is a lot of flexibility with fees, some companies may work on finding loopholes to help them avoid paying. Yet by doing so they are also paying the cost of taking a risk," he said.

"China's remarkable progress in reducing extreme poverty has significantly contributed to the decline in global poverty," said Hoon S Soh, World Bank program leader for economic policy for China.

"Chinese cities have been innovated in a way that has never been done anywhere in the world. There were no models and this cannot be learned from the West. The West has never done anything similar－to accommodate such a large migrant population in such a short time."

"Chinese brands are at the forefront of innovation, and its global brand-builders are helping to establish 'Brand China' as innovative, cutting-edge and pioneering. China's insatiable appetite for new technology is fuelling the growth of many brand categories and powering innovation at an incredible pace," the report said.