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"Companies' future output expectations remained strong, reflecting a positive outlook for the manufacturing sector for the year ahead," Wang said.

"Cruise tourism is still in its infancy in China, so the related travel offerings are rather lower in price. Besides, cruises departing from China usually head to neighboring countries like Japan, where the ports are not that suitable for cruises to dock because of inadequate facilities," said Zhang Gaowei, Lvmama's director of cruise tourism.

"Companies will either use the money they save to pay dividends or reinvest in their business, some of which will be in research and development, which can only be positive for the economy."

"China's inflation is expected to remain stable and there is little likelihood of seeing a significant increase since the economy remains sound," said an official from the National Development and Reform Commission who declined to be identified, adding that the effects of external pressures, such as commodity price fluctuations and potential tariffs, remain under control.

"China's foreign exchange reserve remained stable in February, and the renminbi exchange rate floated within a reasonable range, with still stable expectations," said Wang Chunying, a spokeswoman of the SAFE.