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"China's moves to tighten its credit system are admirably in tune with its efforts to advance reform and opening-up and develop the Belt and Road Initiative with other international partners," said Wang Jun, a researcher at the China Center for International Economic Exchanges.

"China's social and economic reforms have transformed and reshaped the industrial, commercial, and regulatory landscapes of its developing non-Tier-1 cities," he said.

"China's remarkable progress in reducing extreme poverty has significantly contributed to the decline in global poverty," noted Hoon S. Soh, World Bank Program Leader for economic policy for China.

"China's PE market will reembrace diverse opportunities after the epidemic. Similar to the SARS (severe acute respiratory syndrome) outbreak back in 2003, investments started to rebound in the fourth quarter of that year," said Li Chenghuan, partner at global management consulting firm Bain & Company.

"Customers will be able to choose from battery electric, plug-in hybrid and mild hybrid power, as well as ultra-clean petrol and diesel engines."