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"But the dialogue is still important for building stable, healthy, military-to-military relations between the two nations," he said. "Military relations are a matter of life and death. Any mishaps between the two militaries will be catastrophic to bilateral ties."

"China hopes to cooperate closely with the Philippines to build the high-quality BRI, jointly maintaining multilateralism and promote regional development," said Chen, adding that Chongqing Municipality is also willing to share the opportunities with Philippine local governments to make new contributions by boosting exchanges and mutual learning from each other.

"China is WSET's strongest international market and our WSET Asia-Pacific team ... is at full strength to meet the growing demand for wine and spirits education across the region," Harris said.

"China has thus far achieved a significant victory with regard to tackling the novel coronavirus. However, there are two major risks that are blighting the growth recovery. External demand has been falling as the epidemic is spreading to more economies, while chances of a potential second wave of infections within China are also rising," said a research note from Japan-based Nomura Securities.

"China is currently facilitating access to its market for German companies in some areas," Matthes said.