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"Considering that the economic fallout reflects particularly acute shocks in specific sectors, policymakers will need to implement substantial targeted fiscal, monetary, and financial market measures to help affected households and businesses.

"China took the lead in calling for and supporting the extension of the Debt Service Suspension Initiative," said Liu.

"China's experience provides valuable lessons to authorities in other countries which are fashioning their own pathways toward sustainable and long-term financial inclusion," it said.

"China stands ready to work with Kiribati at the opportunity of this visit to strengthen pragmatic cooperation and friendly exchanges with Kiribati on the basis of equality and mutual respect, to better benefit the people of both countries," Foreign Ministry spokesman Geng Shuang told reporters at a news conference in Beijing.

"China used to be seen as the world's factory, but now it is seen as the world's market," Marie-Agnes Veve, head of Airbus Helicopters in China, said at CIIE. "It's a fast-growing market, and as such we see lots of opportunities here. Although we have been in China for 50 years and are currently the leader in the helicopter market, we want to continue to be the main actor here in the years to come."