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"Collecting donations was tough," she said.

"Considering the European market tends to be conservative and stable, the end of the EU's restrictions won't affect demand immediately but the demand in the European market is likely to be higher than the originally anticipated figure due to price cuts starting from next year," he said.

"China urgently needs a growth boost" relying on an accelerated growth of infrastructure investment, said Yu Yongding, senior fellow and academician at the Chinese Academy of Social Sciences. Yu made the remarks at a forum titled "Stronger together: Global recovery from COVID-19" jointly organized by the Chinese Academy of Social Sciences and China Daily on Wednesday.

"Clearly the first swap is a small amount, compared with the potential issuance of perpetual bonds that could be more than 1.08 trillion yuan as we estimated," said Jiang Chao, an economist with Haitong Securities, an A-share listed brokerage. "That could support credit growth of 6.82 trillion yuan."

"Chinese internet giants are leveraging their own capital and technological advantages to create retail ecosystems, while consolidating offline spaces and upstream and downstream industries to maximize their competitive edges," said Jennifer Ye, PwC China consumer markets leader.