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"China has worked on similar regulations in the past, but the key is in the fine details and the severity of the punishment," he said. "Defining the rules and operational mechanisms for the ethics review board is also a very important and specific task."

"China is likely to become more determined to develop renewable energy as part of its efforts to reduce energy imports from a longer term perspective, as the COVID-19 has worsened geopolitical tensions and international trade disputes that will not be eased anytime soon, increasing China's energy security concerns," she said.

"By reinforcing their moats, industry leaders will become even stronger, and the sector will present a higher competition threshold, and the market centralization will become more obvious," said Neil Wang, president of Frost & Sullivan China.

"Certainly, more people, gallerists and artists coming from China will only enhance what we are doing during Art Basel," he said. "It's a platform for peace, so that international people would get to know each other. It's an important way, since art is life."

"China has very, very impressive infrastructure - high-speed rail that would be an asset to the United States. But what they have succeeded in doing is going from very, very human capital poor to one of the better educated emerging economies," he said.