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"Given the huge economic problems caused by the pandemic and the US-China trade war, it is imperative that the EU and China make progress toward an investment agreement," Fraser Cameron, director of the EU-China Center, a Brussels-based think tank, said on Tuesday.

"Fiscal policy has always responded to large shocks but there is now a question about whether the threshold for intervention should be lowered."

"Forty years after the beginning of China's reform and opening-up, China's supply chain, manufacturing chain, as well as its talent pool, have probably grown to the top position in the world," said Wu Peng, general manager of marketing and sales at Dreame Technology, a Tianjin-based company that specializes in smart household appliances."Along with the development of these basic infrastructures, Chinese brands have become very competitive in the world."

"Following a road map for future in-depth cooperation, China and ASEAN are on course for a closer community with a shared future," he said.

"For the Government to come back with exactly the same model that was defeated twice before just strikes me as stupid in the extreme."