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"Currently wind power and photovoltaic power generation cost a lot less compared to the past, due to technology innovation and a price drop in power generation equipment. There is little need for them to receive government subsidies to keep businesses running," Han said.

"Clearly, artificial festivals like Dec 12 play a role in boosting discretionary spending. Elements of the festival, such as countdown shows and celebrity endorsements help to drum up the mood for spending," Qi noted.

"Chinese movies during this year's Spring Festival had a better online reputation than those in previous years. Good film quality and enthusiasm from consumers generated better box office receipts this year," said Xiang Huaquan, president of the Sichuan Emei Film Group, one of the producers of the action movie "Operation Red Sea."

"Clients are looking to cut costs and, instead of designing products themselves, they are outsourcing it to Chinese companies," Ma told China Daily. "Design costs are high in Europe and the US."

"China's steel output grew rapidly in the first quarter of 2019, and crude steel output from China accounted for more than half of the world total, a record," he said, adding the increased output has led to increased steel inventories.