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"China's pressure from growth stabilization has eased greatly and it will pay way for its macroeconomic maneuvers to upgrade its economic structure and contain risks," said Cheng Shi, chief economist at ICBC International.

"Chinese mainland enterprises have become the backbone for Hong Kong's IPO market," Chen said, adding their daily average trading volumes contribute 80 percent of the market total.

"Constant contact and close coordination are the best medicine to ensure that the economic pain inflicted by the virus is relatively short-lived," Georgieva wrote in a blog, which is part of a special IMF series on the response to the coronavirus.

"Commercial war is not the proper answer to this evolution," he said. "A commercial war ... is not consistent with our mission, with our history, with our current commitments for the global security. At the end of the day, it will destroy jobs, increase prices and the middle class will have to pay for it."

"Collaboration between development institutions is essential to make the best use of scarce resources, crow in the private sector, and meet the rising aspirations of the people we serve," said Jim Yong Kim, president of the World Bank.