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As the official Italian export credit agency, SACE serves over 20,000 clients in 198 markets. Its major clients in China will include local subsidiaries of Italian companies, large Chinese corporations and small and medium-sized enterprises doing business with their Italian counterparts, and Chinese companies investing in Italy.

As seen in medical supplies alone amid the outbreak, China's position in global industrial chains in the short and long term remains firm and significant, said Teng Jianqun, director of the Department of American Studies at the China Institute of International Studies.

As the world's largest 5G and smartphone market, China has already made constant progress in telecommunication and electronics industries. A string of US tech companies, including Qualcomm and Apple, heavily rely on China market for revenue and supply chains.

As well as Chinese high-tech companies, its telecom operators are also eager to participate in formulating 5G global standards and promote commercialization.

As the Chinese economy develops, energy demand for heating not only increases on the consumer side but also surges in the industrial sector, especially in the food and beverage, pharmaceutical, chemistry and textiles segments, he said.