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"Chinese companies' frenzy for investing in overseas sports industry will cool down for a while. It is positive to have the money invested in domestic sports industry, which has only begun to grow in recent years and has required patience to cultivate its sustainable development," said Adam Zhang, founder of Key-Solution Sports Consultancy.

"China sacrificed the economy of Hubei province to buy time for the world to be better prepared for the virus. As the mobility of the country's entire population of 1.4 billion people was restricted, its economic activities literally ground to a halt for weeks," he said.

"Consumption is playing a bigger fundamental role in driving economic growth," said the ministry.

"Chinese customers perceive high-tech as premium, so automakers have to invest more on in-car technologies to further enhance their brands," Deloitte Consulting (Shanghai) automotive industry partner Marco Hecker told China Daily in June.

"Counting in the 30 million yuan in rent, we have to burn 2.5 million yuan every day," Wu Guoping, founder of Grandma's Home, was quoted as saying by Beijing News.