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"For investors, the continuous stimulus from national policies reducing taxes and fees, expanding opening-up and encouraging scientific and technological innovation, especially the launch of the sci-tech innovation board or STAR Market, will undoubtedly be the highlights of the venture capital market in 2019," said Gao.

"For the time being, we cannot tell how many days it might take until the boys could be evacuated out of the cave safely," he said.

"Global cooperation to synchronize monetary policy must be high on the agenda," he said, adding that money authorities can deploy variants of special lending schemes that aim at to lower the costs of borrowing. "If economic and financial conditions were to deteriorate further, policymakers could revert to the broader toolkit that was developed during the 2008 global financial crisis."

"Financial institutions are allowed to make independent investment decisions based on market-oriented rules, and their financing activities should not increase local governments' contingent liabilities," said the document.

"Generally speaking, the economy overcame the adverse impact of the COVID-19 pandemic gradually in the first half of the year and demonstrated a momentum of restorative growth with greater resilience and vitality," Liu Aihua, an NBS spokeswoman, said at a news conference in Beijing.