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"Consumers are becoming more selective about the products they purchase, and tend to buy products that have more practical uses," said Emily Cheng, general manager of Honeywell Connected Living Solutions China.

"Cross-border capital flows should be monitored by the Chinese monetary authority next year to prevent unexpected fluctuations, which have happened in some emerging market economies this year," said Wang Shengzu, co-head of the Investment Strategy Group Asia at Goldman Sachs Private Wealth Management.

"Chinese parents are obsessed about education, something that is based in the culture," said Jeff Zhu, vice-president of Shanghai-based Dipont Education Management Group. "It has always been perceived as the main, if not the only, ladder, for the elevation of social status."

"Companies producing substandard fireworks will be ordered to rectify the problems, while those violating product-safety regulations in the production process will be punished," he said.

"Compared with the production resumption, the rebound in demand is slower and external uncertainties may dim the recovery," Wen said.