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"China's fiscal package is modest compared to global peers," said Zhu Haibin, JPMorgan chief China economist. "The important difference is the composition of the fiscal package. China's fiscal package includes a higher share of stimulus component-fiscal support for investment activity that creates new jobs."

"Compared with the last Great Recession caused by the 2008 global financial crisis, what makes the recession this time so 'grand' is not just in terms of how many jobs we're going to lose, but results from the fact that we're going to be led to a historical turning point in terms of geo-economics," he warned.

"Chinese people once transported many commodities like tea to India through the Ancient Tea Horse Road (a trade link in Southwest China, extending to South Asia). The history of trade may partly explain our similarities," he said.

"China's fast-growing digital and 5G technologies will also provide a solid foundation for its manufacturers going forward. This will benefit greener, more efficient and sustainable industrial development in the park," said Ma Yu, a researcher at the Chinese Academy of International Trade and Economic Cooperation in Beijing.

"Consumption at convenience stores is usually spontaneous. Their service is irreplaceable either by traditional stores or e-commerce's same day delivery," said Wang Hongtao, deputy secretary-general of the China Chain Store & Franchise Association.