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Central SOEs should not delay the reduction or exemption for qualifying small and self-employed businesses for any reason, said the circular.

Central banks should not go overboard and deplete their policy space in the face of the coronavirus shock, but instead should save their ammunition for what is likely to be a rather long cycle of global recession, Zhang said.

Celadon wares have provided jobs for 16,000 people in the city and contributed to a 30 percent annual growth rate for the city, Wu said.

Charlie Liu, industrial practice leader and partner of global executive search firm Heidrick & Struggles in China, said the downturn pressures of the economy have also made companies take a more cautious approach to human resources.

Car-sharing businesses in China are seeing a slowing in development because the pandemic has cut people's demand for the service.