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"Computer vision technologies are being increasingly used in the security and surveillance sector. And its use in smart retail, such as face-recognition-enabled payments, is also very fast. China excels in applying cutting-edge technologies to daily consumption scenarios," Song added.

"China's home prices are relatively stable given the figures of the 70 cities," said NBS spokesman Mao Shengyong. "But structural problems still exist in the housing market."

"Commercial banks' general asset management business contracted last year, largely due to the newly released asset management regulations. But China's private banking sector grew unexpectedly, leading wealthy Chinese to invest in the country's key sectors to optimize social resources and accelerate the transformation of China's banking industry," said Bai Ruiming, deputy secretary-general of the association.

"Covid-19 will need to break through the job market firewall if it is to do significant damage to the economy," Mark Zandi, chief economist at Moody's Analytics, said in a statement. "The firewall has some cracks, but judging by the February employment gain it should be strong enough to weather most scenarios."

"Chinese mainland people are used to paying for things with their phones, so it will be like home for them," Wei said.