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"Competition is one of the best mechanisms to promote innovation, and help maintain the vitality of every company." he said.

"Cinema operators should step up efforts to find ways to make up for their loss … everything will become better if we stick to it… although cinemas are not allowed to re-open, we can still carry on holding other activities," Wang wrote in his recent WeChat posts.

"Chinese authorities are looking to fast track new energy vehicle (NEV) sales, but despite subsidies the growth in volume in the NEV segment amounts to just around 1.8 percent of the total vehicle market in China so far this year. The authorities are beginning to look for tougher and more stringent ways to strengthen the NEV segment," wrote Namrita Chow, principal automotive analyst of IHS Markit, in an email.

"Currently, financial risks are one of the most prominent and major type of risks in China … The country is still facing relatively huge pressure for a possible rebound in nonperforming loans, and the inventory of shadow banking activities is still fairly large, with frequent occurrence of law and regulatory violations," said Xiao Yuanqi, chief of the prudential regulation bureau of the China Banking Regulatory Commission, at a news conference on Friday.

"Chinese companies must go upward if they want to see the long-term return after going through the winter of the market," he said.