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"Compared with traditional punishments which had limited influence and were hard to execute completely, the new approach is a more powerful deterrent," Liu said, adding that the move also contributes to building the broad social credit system.

"Compared with buying items in a store, clothing rental services allow women to update their look more frequently and wear more dresses that they could not normally afford to buy. So it is truly a business opportunity," she added.

"Chinese authorities at all levels have rolled out measures to help travel businesses recover their operations," Dai said.

"China's demand for imported medical and healthcare products has remained steady in recent years with a tendency toward growth," said Wang Maochun, vice-president of the chamber. "The decline in import value was mainly due to the price drop rather than a volume decrease."

"Chinese pharmaceutical companies lag behind multinationals in the chemical drugs sector, but it is a different story for biomedicine and innovative drugs R&D," Shi said.