Zhang Tao, Deputy Managing Director of the International Monetary Fund (IMF), said strong global and regional cooperation is needed to complement national efforts, and no country can succeed by itself. He said the IMF has projected the global economy to contract by 3 percent in 2020, a sharp reverse from a forecast of 3.3% expansion in January, adding that the downturn is much worse than during the 2008-2009 financial crisis.

Nicolas Chapuis, EU ambassador to China, urged concerted efforts to keep the global industrial chain and supply chain open, stable and resilient.