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"But once the price went crazy, it's a matter of time before the market collapsed," said Liu.

"China is well prepared for further actions taken by the US and will resolutely fight back if the US insists on unilateralism," Gao added.

"China has a vast domestic market, yet it is also deeply integrated into the global economy. There is much pressure on foreign trade. What is important now is that the many policies that have been introduced will be fully delivered in an effort to achieve the goal we set early this year of ensuring the steady growth and improved quality of foreign trade," Li said.

"China is one of the few major economies in the world that have maintained normal monetary policy and we are still far from using the unconventional tools, such as the zero and sub-zero interest rates," he added. "China has sufficient policy space to support steady economic growth. Equipped with a rich policy toolkit, China is capable of coping with various uncertainties."

"China and the European Union share similar ideas and attitudes toward some important issues, including globalization, free trade and opposition to trade protectionism."