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Analysts said the producer price index, which measures factory-gate prices and reflects the state of corporate activities, has stopped falling and picked up in recent months, meaning corporate profits will rise and investment will increase.

Angus said this is, in part, driven by the rise of a Chinese counter-culture dubbed wenqing. The term derives from wenyiqingnian, which directly translates as "cultured youth" but perhaps is better expressed by the word "hipster".

And the Cowboy state Wyoming also saw a record for confirmed coronavirus cases with 36 on Thursday, joining Montana that saw 37 additional cases that day - the biggest day since March 26.

An optimized livestreaming shopping process and experience holds the key to attracting consumers in addition to cost performance. According to the Nielsen study, some of the reasons why consumers are hesitant to use livestreaming e-commerce platforms are due to product quality, after-sales problems, less-than-appealing discounts, as well as being unable to obtain the product.

Analysts believe authorities will continue their differentiated approach to property market regulation with more curbs in cities where housing prices have grown significantly.