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"China is special, and not all countries can copy its path, of course. But there are a lot of things that we can learn from each other," she said.

"But we do believe that our action will provide a meaningful boost to the economy," said Powell. "More specifically, it will support accommodated financial conditions and avoid a tightening of financial conditions which can weigh on activity and will help boost household and business confidence."

"China has managed the aftermath of coronavirus much more efficiently than Western economies and will therefore catch up with these economies rather more quickly," he said.

"China Electronics Corp has strong advantages in modern digital urban industrial control systems and other related sectors, and Qi An Xin has rich experience in fields including network security solutions, cloud computing and big data. Under the partnership, the two will help better safeguard the network security for the informatization of various industries," Qi said.

"China grew revenues 30 percent in Q1, with the strategic acquisition of East China positioning us to accelerate our growth in the key China market,"?Kevin Johnson, president and CEO, said in a statement on Thursday.