President Xi Jinping speaks during the G20 Extraordinary Leaders' Summit on COVID-19 on Thursday. The president participated in the summit, which was in the form of a videoconference, at the Great Hall of the People in Beijing. LI XUEREN/PANG XINGLEI/XINHUA

Major economies should coordinate their economic policies as some countries' stimulus policies have caused turbulence in the global financial market, he said, adding that greater communication is needed to prevent the health crisis from turning into a global financial crisis.

From a long-term perspective, the G20 members should also discuss how to prevent the outbreak of similar epidemics and improve the global governance system, he added.

Koh King Kee, president of the Centre for New Inclusive Asia, a leading Asian think tank based in Kuala Lumpur, Malaysia, said that the G20 meeting is most timely and of critical importance in the global effort to stem the spread of the virus.

Moreover, as the major economies of the world are under lockdown, the world economy is in danger of slipping into a recession.

"World leaders must now act and collaborate, putting aside ideology and geopolitics, take swift, strong and unconventional measures not only to fight the common enemy, COVID-19, but also to prevent a global recession," he said.

He added that China now has the pandemic under control and has rebooted its economy. It has both the experience and expertise to share with the world and the capacity to produce much needed medical supplies for countries hard hit by the pandemic.

"President Xi's participation in the G20 meeting is a must, as China plays a leading role both in ensuring the health of mankind and the world economy," he said.

Hirotake Ran, a professor of East Asia studies at Musashino University in Tokyo, said Xi's speech at the meeting attracted great attention globally.

"China was the first country to be hit by the virus and was the most affected one, and it achieved great successes after making great sacrifices. Therefore, the information, experience and lessons offered by China are important for other countries," Ran said.

"Although the situation and system differs from country to country, it is of great significance to sum up these excellent and effective measures in order to contain the epidemic as soon as possible," Ran added.

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