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"Even the suspended ceiling was water stained. The water level in the store reached up to 2 meters," the man told Beijing News, adding that he lost suitcases worth more than 200,000 yuan (,000).

"Demand for home loans, under such conditions, is likely to decline. Growth in home loans will slow, and lending rates are likely to rebound. In some cities, lending to homebuyers is likely to be further tightened," said Wang.

"Data intelligence is widely applied across all scenarios in holiday traffic. By utilizing these cloud technologies, we can precisely pinpoint a route for circumventing congestion and save time," Xiao said, adding that this will help provide real-time traffic alerts to the public and allocate resources in advance to alleviate traffic jams.

"Despite the negative effects of the COVID-19 epidemic, the added value of Beijing's finance sector rose by 5.7 percent during the first six months, reinforcing its support for the city economy," he said.

"Ensuring effective transmission of the monetary policy has always been a challenge for policymakers. At present, a targeted policy approach seems to be the most effective way to do that," said Bloomberg's China economist Qu Tianshi.