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"Cash-constrained airlines will postpone their scheduled aircraft replacements. It is expected to be a long and slow recovery period after travel restrictions are lifted. As most aircraft are grounded, demand for flight hour and flight cycle-related maintenance has also disappeared," said Manfred Hader, senior partner of Roland Berger in Germany.

"China needs to make a big push to unleash its huge domestic demand potential, move up the industrial and value chain and drive digital transformation," Wang said. "To better satisfy the need to upgrade, China should also focus on driving industrial innovation, improving the industrial support system and cultivating high-quality talent."

"California exporters are attempting to find buyers in other countries to counteract the decrease in exports to China," said Sfeir.

"But the policy response has also contributed to global public debt reaching its highest level in recorded history, at over 100 percent of global GDP (Gross domestic product), in excess of post-World War II peaks," they noted.

"China has been rolling out policies for capital market reforms since October, aiming to facilitate the move of funds from parties with excess capital to parties needing funds－the core function of securities firms," said Ma Kunpeng, an industry analyst with mainland-listed SWS Securities.