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As a sign of the booming ties between China and the 10-country group, China has been ASEAN's largest trade partner for eight years.

As epidemic prevention and control becomes a regular practice, the two countries should not only cherish their accomplishments already achieved in the anti-coronavirus fight and prevent a resurgence of the epidemic, but also secure positive economic cycles in East Asia and smooth functioning of industrial and supply chains, Wang said, adding it is in line with the common interests of all East Asian countries, including China and Singapore.

As an example, he cites technologies, including new retail, autonomous driving, internet of things, will make mobility more affordable and online sharing technology will drive larger car fleets such as Uber and Didi. All these drivers he expects will increase car usage time from today's 4 percent to 30 percent or more.

As for the WTO, Wang said it represents the rule-based multilateral trade system, and its core values and basic principles must be respected.

As consumers increasingly embrace online shopping and get to know about online group-buying, such products are no longer solely low-priced goods but now include higher-value products including electronic devices.