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Analysts suggested policy makers adopt differentiated approaches as every SOE has its own characteristics, saying the reforms would be a long process, and not accomplished at one stroke.

And the prospect of attracting a new generation of skiers and snowboarders, from China, has galvanized European ski resorts, which have suffered in recent years from stagnant growth among European customers, and fewer ideal skiing days because of global warming.

An urged the United States to abide by the one-China policy and the principles of the three Sino-US Joint Communiques, and avoid any form of official contact with Taiwan.

Analysts said the index, along with the renewed expansion momentum of China's manufacturing sector last month, signaled improvement in the economic situation, though policies to cushion downside pressure are still needed amid intensified trade friction between China and the United States.

Analysts said if target retirement funds are offered to China's investors, the mutual fund industry as a whole would benefit as they add variety to market products. Such funds also are in investor interest and help investors understand the benefits of long-term investments.