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"Coming on the heels of the central banks, there is increasing optimism that politicians are starting to understand the scale of the economic stop coming our way as the death toll across Europe and the US continues to rise," Michael Hewson, chief market analyst at CMC Markets UK, said in a research note.

"Compared with many startups, we have respect for traditional brands; and compared with traditional brands, we have respect for startups, especially with their internet-based mentality, which focuses on customers," Niu said.

"Chinese consumers are showing an increasingly high demand for quality lifestyles, and more people are buying makeup to look beautiful. After the outbreak ends, we will see a further strengthening in the online shopping habits and spending on cosmetic products," he said.

"Countries have to be very careful not to turn protectionist, and to work closely with other countries," Gopinath said, adding that it's also important to reform the global trading system, with much work needed to modernize the multilateral-rules based World Trading Organization.

"China, like a lot of Asian countries, has a culture where parents want their kids to go to university. What we have to do is create a narrative depicting how skilled jobs are a good and better career option, and how it contributes to the community," he said.