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"China has maintained its growth resilience and gained reform momentum," said John Litwack, World Bank lead economist for China. "The authorities have undertaken a host of policy and regulatory measures aimed at reducing macroeconomic imbalances and limiting financial risks without notable impact on growth," Litwack said, adding that this year has been a "successful" year for the world's second-largest economy "on many fronts".

"China made the countermeasures after extensively soliciting opinions and careful evaluations of the effects, and they are rational and restrained," he said.

"China never lacked excellent designers or design concepts," he said. "What we lack is the ability to turn a good design into a good business, and by doing so, to benefit young designers and small-and-medium-sized merchants."

"But there is no need to be overly anxious about the risks as China has a deposit insurance plan. By taking measures such as appointing another bank to temporarily manage the bank amid a merger and acquisition process, regulatory authorities will help small and medium-sized banks make a smooth transition of liquidity," he said.

"By taking a flight between Shanghai and a city in nearby Jiangsu province, it will cut the trip to one hour, reduce contact between passengers in boarding buses and trains, and help with epidemic prevention and control," said Zhang Wu'an, a spokesman of Spring Airlines.