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"Experts across the world have advised to reduce mass gatherings to avoid the spread of COVID-19 Novel Coronavirus. Hence, this year I have decided not to participate in any Holi programme," tweeted Modi on Wednesday.

"Enhancing political mutual trust is the prerequisite to the stable development of state-to-state relations," Xi said.

"Especially with the Belt and Road Initiative, digital economic cooperation will become a new stage for international digital trade," she said.

"Even if we wanted to, it would be difficult to lower our exposure to China-made parts," an executive at a Japanese automaker told Reuters, adding that over the past decade, Chinese suppliers had upped their game and now provide a vast range of quality, low-cost parts.

"Facing ongoing international trade uncertainties, many countries are considering gold a hedge against the US dollar," said Wang Shuli, executive board director for Jingyijinhui, a consulting firm on gold, adding that the trend has pushed up gold prices to some extent.