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As a major global consumer market, China has been striving to boost imports and improve its trade structure, rolling out measures to simplify customs procedures and include more products in its tariff-reduction list.

As for balancing investment risks, Stephen said China is trying market-based tools and moving incrementally in its international efforts.

As a result, China's retail sales, a key indicator of consumption, rose by 4.3 percent in October from the year-earlier month, and gained 3.3 percent from September. In another indication of economic recovery, industrial output increased by 6.9 percent year-on-year last month, according to the National Bureau of Statistics.

As approved by the Communist Party of China Central Committee, Ying Yong, mayor of Shanghai, was appointed Party chief of Hubei province, center of the novel coronavirus pneumonia outbreak, Xinhua News Agency said on Thursday.

As a top steel-producing nation, China will likely be under pressure as well.