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"Chinese consumers are shopping across seven different store types and we believe there are still opportunities for brick and mortar retailers," said Jason Yu, general manager of Kantar Worldpanel China. The key is how the retailers adjust to the changes in China and revise their store formats and accelerate digitalization.

"Considering the scale of banks in China, they should play a more important role in fintech innovations," he suggested.

"Chinese authorities have not used the exchange rate in prior easing cycles to support growth, and they are unlikely to do so now, as this could pose macroeconomic stability risk," said Andrew Fennell, lead sovereign analyst for China at Fitch Ratings.

"Combining BP's global retail capability, EV charging expertise and experience with Didi's unrivalled mobility service platform, our partnership will aggregate demand and provide high-quality, fast, reliable and safe charging for Didi drivers and the public in China. Didi plays a critical role in expanding the EV sector in China and with its very large user base we expect to drive high utilization of charging assets from Day One," Erginbilgic added.

"China, which started recovering earlier, is projected to grow strongly, accounting for over one-third of world economic growth in 2021," said Laurence Boone, chief economist at the Organization for Economic Cooperation and Development, at the release of the organization's Economic Outlook earlier this month.