China's ambassador to the EU says the impact of the COVID-19 Coronavirus will be "manageable" and that the country has "full confidence to win the battle." 

Speaking in Brussels to CGTN Europe, ambassador Zhang Ming said, "China produces 50 percent of the total materials needed by the world pharmaceutical industry and the epidemic will influence the European pharmaceutical factories."

But he issued an assurance that production will resume as soon as possible. "We take pharmacy materials production as the top priority because it is related to the health of the people, so it should be a top priority," Mr Zhang said. 

His response comes as health officials warn of potential drug shortages because of China's COVID-19 lock down cutting off supplies of Chinese-made essential ingredients.

On the impact of COVID-19 on China's economy, Mr Zhang said that it will be "limited and short-term, not long-lasting," as Beijing has enough resources to mitigate any short-term economic impacts. 

Mr Zhang reiterated that the prospect of the economic cooperation between China and the EU has a "bright future," insisting that the virus will not impact trade negotiations between both sides, which are continuing to take place. 

China and the EU have been negotiating the terms of their relationship since the early 2010s. A 'Strategic Agenda for Cooperation' was signed in 2013 in which both sides agreed to further cooperation on several issues and committed to signing a joint investment agreement by the end of 2020.

Mr Zhang said he was confident this target will be met, saying, "I am personally optimistic with the conclusion of the geographical indication agreement as well as the investment agreement."

A visit by Chinese Vice Premier Liu He to Brussels for high-level economic talks, which was scheduled for 21 and 22 February, has been postponed due to the virus.

But Mr Zhang said this didn't mean talks had stopped, saying they will continue "by video conference and telephone conference, by hi-tech - fortunately we have Huawei.”

The ambassador also praised Europe's response to the outbreak. "European countries responded to this epidemic peacefully and maturely and most of the countries have taken appropriate measures, not excessive measures," Mr Zhang said.

He also thanked the EU for organizing the first batch of protective equipment sent to the epicenter of the outbreak, Wuhan, as well as for their "spiritual support" to the Chinese people. 

However, Mr Zhang also condemned the acts of discrimination and racism against Chinese and Asian people in Europe, but praised European leaders for their response to these actions.

"I think this is very good spiritual support for the people in China who are fighting the disease, we appreciate this support," Ambassador Zhang said.