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China's efforts to improve socialism with Chinese characteristics, as well as to modernize its system of governance, are worth learning from and drawing on for Laos, and they will encourage Laos to stick to the socialist path, he added.

China's local economic development last year also featured more balanced growth as the less developed regions, such as northwestern Qinghai province and southwestern Tibet autonomous region, have achieved growth rates higher than the overall national growth, which will help the country's drive to alleviate poverty, Zhou said.

China's leadership is leading this process of reviving the economy, in contrast to other countries with neoliberal policies, where government involvement is practically nonexistent, Regalado noted.

China's offline retail sector is among the hardest-hit by the epidemic as consumers stay away from crowded places. The government has called for combined efforts to help small retailers get over the short-term pains.

China's fiscal revenue increased at a steady rate of 10.6 percent on an annualized basis during the first half of this year with fiscal spending in key sectors growing at a faster pace and sustaining economic growth, the Ministry of Finance said on Friday.