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"Companies in China have not only reported the greatest success so far in recouping output lost to COVID-19, but also anticipate making the fastest full recovery," said Chris Williamson, an economist at IHS Markit.

"Chinese consumers have shown huge enthusiasm for 5G smartphones, which has outpaced our expectations," Lei Jun, founder and CEO of another leading smartphone vendor Xiaomi Corp, said at the WIC.

"Cruise travel during the summer holiday has always been popular, and to date, we have already seen more than 50 percent growth in reservations compared with the annual average," said Liu Xiaolyu, head of the cruise division at Ctrip, China's biggest online travel agency.

"Chint has been actively integrating and promoting productivity in foreign countries, including the construction of its logistics centers, which deepens its overseas channel," said Tang Xuewen, an analyst from Shanghai-based Everbright Securities, in a report.

"Constraints over local governments' budgets will be made more binding," it said, noting that "disorderly use of debt financing for construction will be resolutely stopped and the governments' bond issuance practices will be standardized."