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"But, to be clear, we do not see a recession in the near term. In fact, we expect some pickup in growth in the second half of 2019 and into 2020," she said, adding that the growth is set to benefit from the now more-patient pace of monetary normalization by major central banks led by the US Federal Reserve and "from increased stimulus, in China for example".

"But now with SWIFT GPI, the banks in China can now facilitate those tuition payments stripping out the friction ... making them faster and more information rich."

"COVID-19 is a common challenge facing all of humanity. China is fighting not just for itself, but also for the world," he said, adding that China treats its own people and those of other countries in the same way and applies prevention and control measures equally.

"China is actually becoming the leader in many markets and technologies that we are interested in," said Shafer, referring to digital platforms in China that help companies engage with customers.

"China has been the second-largest life insurance market in the world, but market potential remains large as the population ages and spending on healthcare increases", Su added.