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"China's mining companies have been going overseas to secure a stable supply of raw materials. Chalco, the largest State-owned aluminum producer, has entered into an agreement to develop the Boffa bauxite in Guinea, in order to increase its self-sufficiency in bauxite to 75 percent by the end of 2021," said Zhu Yi, a senior analyst for metals and mining at Bloomberg.

"Composed by new industry, new formats and new models, China's new economic driver is expanding, unleashing the vitality of the economy and supporting its high-quality development," said Lyu Haiqi, an official with the National Bureau of Statistics.

"Chinese companies have participated in some heavyweight projects in Italy," he said, adding that China and Italy will soon renew the action plan for cooperation, which expired at the end of last year.

"Cosmetics is not a necessity. There will be a phase of delayed consumption due to the epidemic. Once the contagion is over, makeup sales are expected to see a big rebound," said Neil Wang, president of Frost & Sullivan China, a consultancy.

"Closer cooperation between two parties will expand market access and create more business opportunities along the Arctic shipping route," said Li Fengli, general manager of Shandong Port Group.