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"Grid-based workers have built the first line of defense against the virus," says Luo Ping, the Party official from the city of Wuhan.

"Given the declining base effect and the depressed demand due to the epidemic, CPI growth is likely to gradually decelerate for the rest of the year," he said.

"From the demand side, the EV (electric vehicle) fleet is growing rapidly. Early adopters to EVs were usually affluent people with private parking garages and private chargers installed. As the EV market expands, more customers do not own their own parking spaces, which creates more demand for public chargers. The rising charger utilization rate will generate better cash flow, which will help investors build more chargers," he said.

"Foreign investors will now be able to compete on the same terms as China's domestic companies," he said, adding that a number of key sectors have gone through significant liberalization for foreign direct investment, such as automobile, finance and insurance.

"Fiscal policy is a way to direct relief to particular populations and groups," said the Fed chief. "We do think fiscal response is critical, and we're happy to see that those measures are being considered, and we hope that they are effective."