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Chinese authorities have laid out policy reforms that aim to further open up Shenzhen's economy. These include easing restrictions on the energy, telecommunication, public service, transport and education sectors; loosening limits on foreign investment in cutting-edge technologies; and strengthening the protection of intellectual property rights.

Chinese authorities have also urged local officials to help foreign-funded companies with work resumption and operation, with eastern China's Shandong province rolling out a raft of measures like tax relief and deferring social insurance payments.

Chinese online travel agencies have launched livestreaming programs for short-term lodging services and tourist destinations across the nation.

Chinese automobile brands are developing right here in the world's largest auto market, and that has helped bolster the already robust local automotive supply chain, said Liu from the China Development Research Foundation. "Chinese auto brands are competing side by side with their international peers. Despite being weak in some areas, Chinese car makers are ahead of the world in other areas," he added.

Chinese group-buying and dining information platform Meituan-Dianping has finally launched ride-hailing services in Shanghai, heating up competition with Didi Chuxing in the nation's burgeoning but cutthroat car-hailing market.