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"Considering the structural price rise, it is unlikely to see China heading for stagflation in 2020," Cheng said.

"Consumers will only come out and take off their masks for a cup of tea if the epidemic has been contained. The crowded bubble tea cafes are proof that everything is getting back on track," Huang said.

"Conducting such a competition can help promote ethnic traditional culture in one way and on the other hand, it provides the monks and nuns a stage for exchanges and communications. We will conduct similar activities in the future to help raise monks' interest in learning," he said.

"Commercial banks' general asset management business contracted last year, largely due to the newly released asset management regulations. But China's private banking sector grew unexpectedly, leading wealthy Chinese to invest in the country's key sectors to optimize social resources and accelerate the transformation of China's banking industry," said Bai Ruiming, deputy secretary-general of the association.

"Currently, most of their revenues are from the domestic market," Dai said. "Douyin and Kuaishou have gained popularity in Japan and Southeast Asia, respectively. We expect those Chinese short video apps will see more downloads and revenues generated from overseas markets."