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"China has shown economic strength... in the last decades, its economy has also fueled our growth in ASEAN with tourism from China, manufacturing and infrastructure projects," he said.

"China has made great progress, but if you reflect back, the Global Findex showed that we went from the low 60s to about 69 percent of people in the world covered in terms of financial access," Kim said, referring to the finding that 69 percent of adults around the world, or 3.8 billion people, have an account at a bank or mobile money provider, up from 62 percent in 2014.

"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 is a longstanding friend of Sri Lanka, therefore, we stand in solidarity with the people and the government of China at this hour of difficulty", said K K Yoganaadan, acting ambassador of the Embassy of Sri Lanka in China.

"But we are not fretting about the possibility that food prices will register a continuous, higher-than-expected rise," said Li Chao, chief macroeconomic analyst at Hua?tai Securities.