In the medieval surrounds of the City of London's ancient Guildhall, Sino-UK business leaders wrestle with a 21st-century crisis: the spread of COVID-19.

In a week when the markets began to factor in the potential economic fallout of COVID-19, the chatter was of fighting the outbreak and calming the situation.

"I think that reflects people's reaction to the latest development," said Fang Wenjian, chief executive of Bank of China UK.

"Whether that reaction is right or wrong, it's too early to judge. That's the sum of emotional, or some reasonable expectation, but definitely there are emotional elements there."

But despite the Beijing office of the World Health Organization saying that China's measures to tackle the virus had successfully changed the course of the outbreak, the economic impact of COVID-19 continues to be felt around the world.

"It is a difficult time for us all," says Richard Burn, the UK's trade commissioner to China. "Here in the UK I'm working to put together a response and discuss what we also may be able to do to support British companies. So we are very much thinking of all our colleagues who live and work in China."

According to the Centre for Economic and Business Research, if a significant increase in novel coronavirus cases in the UK caused a full Wuhan-style lockdown of London, it would cost in the region of $650 million dollars a day.

Businesses in the UK capital, though, were urged to keep calm and carry on, with Liu Xiaoming, China's ambassador to London, among those staying optimistic:

"With the solidarity of China's own people and the broad support of the international community, this battle against the virus can be won."

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