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"Dual circulation" underlines the need to give full play to the country's hyper-sized domestic market, in order to inject new impetus into the Chinese economy through enhanced domestic circulation. But, it also requires unwavering opening-up to make better use of resources and domestic and overseas markets, Ma said.

"Ensuring effective transmission of the monetary policy has always been a challenge for policymakers. At present, a targeted policy approach seems to be the most effective way to do that," said Bloomberg's China economist Qu Tianshi.

"E-commerce is helping rural people to join the digital economy, and some of them even have started their own businesses online," she said.

"Despite the COVID-19 outbreak, China has witnessed growth opportunities for new internet-based forms of consumption. And a large amount of new consumption models appeared amid the pandemic, boosting online consumption of goods and services in fields such as medical care, education, entertainment, tourism, sports and fitness."

"Everyone in China knows the story, but in European countries or the US, few people know about Journey to the West. I think such an intriguing story should be introduced to more people," he said.