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"Despite the impact of the novel coronavirus outbreak on consumer loans and credit cards in the short run, we estimate that as the outbreak is effectively contained step by step, the consumer finance market still has tremendous potential, especially because of consumption upgrading and consumption quality enhancement," Ji said at a news conference.

"Even though our sports industry has grown at a fast pace in recent years, we are not yet a strong sporting nation, consumption-wise, as the contribution of the sports business to our overall economic growth remains modest," Li Yingchuan, a deputy director of GASC, said in a media briefing on Wednesday.

"Empty-nest" youths are categorized as young, single individuals who live alone and usually work in cities.

"Every day of this year will add 0 million to industry losses," IATA director General Alexandre de Juniac told Reuters. "Airlines will still be financially fragile in 2021.

"Every time regulatory authorities relax regulations on the proportion of an insurer's investments in equity assets to its total assets, the move will bring tremendous returns to the insurance sector, especially leading insurers, and promote rapid development of capital markets," said Wang Guojun, a finance professor at the University of International Business and Economics in Beijing.