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"Cultural industries now account for more than 4 percent of the country's gross domestic product, but their role in economic upgrading is more substantial than this figure - they are helping with the upgrade of other industries," Zhang said.

"Currently, people aren't highly alert to the problem that individual and household loans for home purchases and investment have been growing at a rapid rate. It's very dangerous," Guo said on the sidelines of this year's session of the National People's Congress in Beijing.

"China's medical policies concerning online pharmaceutical stores are being relaxed step by step," said Fu Guang, president of Baheal Pharmaceutical Group, which focuses on healthcare investment.

"China's scale dividends are likely to be an important driver of improving the total factor productivity over the next five to 10 years," said Shen Minggao, chief economist at GF Securities, who noted more efforts are needed to drive the transformation and upgrading of the traditional manufacturing industry, enhance its efficiency, as well as improve total factor productivity, in a bid to maintain a relatively rapid GDP growth.

"Clearly the coronavirus is not gone. In fact, we have got it worse now than we had it in the spring I believe, and I think that's true in a lot of other states," McConnell said at a news conference, adding the country needs another relief package.