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"Crude has become a bigger problem for markets than the coronavirus," Adan Crisafulli, founder of Vital Knowledge, told CNBC. "It will be virtually impossible for (the S&P 500) to substantially bounce (back) if Brent continues to crater."

"Compared with the time needed for the industry to recover, what is more critical now is when consumers' demand for travel will resume," the spokesperson said.

"Cleaner technologies are already capturing the lion's share of growth in the power and mobility sectors, and this series of synchronous disruptions should be an impetus for climate-aligned corporations and investors to accelerate the shift of capital needed to fuel the clean energy transition, which can help to avoid the future disasters that will be the inevitable result of climate change," the think tank said.

"Chinese music never really developed in the West," Cai said. "We believe this program will make changes in the long run."

"China's competitive advantage in attracting foreign investment has not changed," Zong said at a news briefing.