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"China's economic recovery can benefit the rest of the world and is necessary for the country's further development," he said.

"Corporate strategy, investment decisions and internal control system issues caused these defaults," he said.

"Chinese companies need to target strong, not troubled, companies. Sometimes, Chinese companies acquire French firms that are in serious trouble. It's almost impossible for Chinese managers in China, which is so far away from France, to fix the problems.

"China, the world's second-largest economy, is capable of absorbing the short-term hit with a strong material and technological basis as well its very large market," Li added. "And many sectors emerged as beneficiaries of the recent outbreak, including online shopping, fresh food e-commerce, online education, online medical services and telecommuting."

"China will further ease market access, implement just and fair supervision, guarantee fair competition of different ownership subjects, and work to create an open, transparent, stable and expectable market and law environment for domestic and foreign enterprises as well as all kinds of talent."