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"Financial institutions, especially some commercial banks, became hesitant or overreacted to the tightened regulations, thus they suspended part of their financing activities and stopped large-scale investment in nonstandard credit assets already－one of the reasons that led to the current liquidity pressure," said Wei Xing, an expert in asset management products with a domestic securities company.

"Green development has been one of the key concerns for different sectors of society as the country's economic recovery continues amid COVID-19 prevention and control," said Liu, who also is Chinese chief adviser to the China Council for International Cooperation on Environment and Development.

"For many Chinese, mobile payments have become an essential part of their everyday lives. They not only change the lives of young people, but also provide convenience for the elderly," said Zhang Jianjun, an economist based in Gansu.

"From 2013 to 2016, the annual contribution rate of domestic demand to economic growth surpassed 100 percent, and the figure for the first half of 2017 was 96 percent. The potential of the nation's domestic demand is still very great," Ning said.

"Haitao, or shopping directly from overseas sites, is likely to be more relevant to brands looking at initial market entry. Retailers and brands should therefore play to their different national specialties when attempting to differentiate themselves from their competitors," said Matthew Crabbe, Mintel's Asia-Pacific director of research.