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But for the whole year, moderate CPI growth will not have a major bearing on the current monetary policy stance, said Yan Ling, analyst with China Merchants Securities. Yan forecast whole-year CPI growth of 2.3 percent.

But analysts said that the chance to roll out large policy easing as in the first quarter is small as policymakers are paying close attention to the risks in the financial markets and the property sector.

But prospects are less rosy for non-discretionary spending like luxury goods, according to Kantar's figures, which saw 61 percent of respondents trimming or calling off spending. More importantly, 21 percent said that the cuts could be a lasting decision, which is the highest across all industries.

But Wen Xiaoting believes both on-and off-field brilliance is key to a sports club's long-term success.

But he noted that listed banks will improve their risk resistance capacity and estimated that the ratio of allowance for loan impairment losses to non-performing loans of listed banks will exceed 200 percent at the end of 2019.