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"Facing a grim situation both at home and abroad, we will come up with more targeted measures to spur consumption, such as promoting new types of consumption and creating a better consumption environment," said Gao Gao, deputy secretary-general of the National Development and Reform Commission.

"Encouraging street markets and mobile vendors is necessary to increase employment. For those who have jobs, starting street market businesses also helps in generating more income at lower costs. However, it is also important for local governments to roll out regulations to ensure security and hygiene," Wei said.

"Developing an international patent portfolio is a much more expensive exercise, given the higher patent filing and associated translation costs. This demands a focus on quality and on prosecuting only those patents that offer real commercial advantage," said Smith.

"Domestic circulation", or the internal cycle of production, distribution and consumption, will be the mainstay of economic development while the domestic market is integrated with "international circulation" to promote the smooth two-way flow of goods and capital.

"Elected officials are being cautious and want to avoid a spike in cases," he said. "Things are't going to get significantly better anytime soon."