China has warned that Britain's exit (or Brexit) from the European Union (EU) would cast a shadow over the global economy as well as heighten uncertainties in markets all over the world.

On Sunday, at the annual meeting of the Asian Infrastructure Bank in Beijing (AIIB), China's Minister of Finance Lou Jiwei said that the repercussions of Brexit will start to show in the global economy in the next five to 10 years.

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However, experts say that it is unlikely the Chinese economy will be affected greatly by the economic fallout of Brexit from the EU.

"The knee-jerk reaction from the market is probably a bit excessive and needs to calm down and take an objective view," Lou said.

After Britain left the EU, many investors pulled out of the country and stock markets plunged, Reuters reported.

Economist Nouriel Roubini said that Brexit could be the beginning of the disintegration of the union of European countries."I don't expect a global recession or another global financial crisis. I think the impact of Brexit is significant but not of the same size and magnitude of the one we had 2007 to 2009," Roubini said during the World Economic Forum (WEF) in Tianjin.

Xu Shaoshi, the chairman of the National Development and Reform Commission, who was also at the WEF, said that Brexit will affect China's economy in terms of investment, trade and capital. However, he believes that it will not be big and relevant to the government departments.

Huang Yiping, a professor at Peking University and a member of the central bank's monetary policy committee, also said that Brexit is an important landmark in terms of globalization, but it is bad for the world as it has a reverse effect.

Michael Falcon, the CEO of Global Investment Management Asia Pacific at JP Morgan, said that the vote for Britain to exit the EU will not derail a global recovery pointing out that it is just a shock, not a crisis. 

Tagsbrexit, Britain exit, china, Economy, global market, stocks, European Union, global economy