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"China should not only have the Forbidden City or Summer Palace that can stand out in the world. It also needs residences from the common people to refl ect the ordinary side of extraordinary traditional Chinese life," said Qin.

"China's income growth remains at the same level of mid-income countries and it still has a lot of potential to develop," he told another forum held by the Institute of Economics of the CASS on Friday.

"China, Japan and South Korea took different approaches in dealing with COVID-19, and they can share lessons with ASEAN," Pitlo said. He also welcomed the planned signing of the RCEP, saying that a new free trade agreement like the RCEP can help economic recovery.

"Companies are looking to reduce costs and rejig equity structure, along with an expanded focus on innovation-led development and structural upgrade."

"Currently, liquidity conditions in China are loose, and the country has lowered interest rates to help revive the economy. Under the present circumstances, the rally in the stock and housing markets will cause some investors to seek funds from banks by violating laws and regulations to invest in these markets, in the hope of making huge profits from speculation," Lian said.