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"China has been deliberately accused by certain foreign media of practising neo-colonialism in some countries, exploiting energy resources and other minerals and supporting authoritarian regimes," said He Jingtong, a business professor at Nankai University in Tianjin.

"China may increase the interest rates for open market operations following the possible US rate hike, but in a moderate way, a similar move as it took in December and March," said Yang, who also suggested a further cut in the cash that banks set aside as reserves when liquidity risk increases.

"Case studies and small clinical trials have emerged that appear to be successful in treating COVID-19 using traditional Chinese medicine alone or in combination with Western medical treatment," she said.

"Can you freestyle?" has become an immensely popular phrase on China's social network thanks to Chinese pop singer and actor Kris Wu.

"But millions of SMEs are under-served, whose demand for tailor-made communication services represents almost a 500-billion-yuan (.5 billion) market. That is what Alibaba is interested in," Yu said, adding it is not a competitor but complements telecom carriers' services.