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"But there is no need to panic. The contraction in earnings of most industrial sectors should substantially narrow in the second half of the year as domestic demand recovers," Yang said. He also underscored the importance of offering more tax relief and financial aid to hard-hit exporters as well as small businesses.

"China is our most important market…it accounts for about 15 percent of the group's overall revenue," said Chua.

"China has an immensely large and ever growing customer potential," the Hungarian National Trade House (MNKH) said in a statement obtained by Xinhua on Friday. The state-run agency is responsible for the Hungarian participation to the import expo.

"But this is not the time for finger-pointing," he said. "This is a time for solidarity, collaboration and mutual support."

"Certainly, restricting foreign travel may slow the pace of its further spread here," he said. "But the president tonight should have focused on what he’s doing in this country to protect the American people from this disease. That is here already. We didn’t hear much about that tonight."