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"Fiscal stimulus is supporting China's economy through a mix of business and household tax changes and infrastructure spending. While the extent to which private businesses and consumers will respond to tax cuts is unclear, we expect the effects of additional infrastructure support to become apparent in 2021," said Bokil.

"Guizhou's stony deserts are shrinking at a faster pace as the spread of desertification has been effectively contained," said Zhang Fujie, deputy director of the Guizhou Forestry Administration.

"Financial institutions should have a countercyclical mindset. When times get tough, they should not simply reduce lending, collect debt in advance or stop lending, for their asset quality will worsen if their clients' risks increase rapidly," he added.

"For the next step to consolidate the integrated development, the existing connection channels will face a bottleneck, which needs more bold and specific innovation and breakthrough," said Xing Yujing, head of the PBOC Shenzhen Branch.

"For example, in big cities, people are willing to spend one month's salary on an iPhone," he said. "In small ones, they prefer mobile phone brands such as Oppo and Vivo, as they have good functions and designs but are relatively cheaper."