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The longest holiday since the outbreak brings opportunities for virus-dampened sectors－which are already on the mend－to turn the corner, said Ying Xiwen, a senior researcher with China Minsheng Bank.

The local government in Dafang has mobilized a rescue team consisting of firefighters,police and medical staff and sent it to the site.

The leading Chinese e-commerce player Alibaba surpassed IBM to become the world's fourth-biggest provider of cloud infrastructure and related services in the first quarter, according to the latest report from Synergy Research Group, a data provider on information technology and cloud-related markets. The top three on the list are Amazon, Microsoft and Google.

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The local government and import and export enterprises in Yiwu have taken a slew of measures to stabilize the supply chains amid uncertainties.

The major import products were mineral or chemical fertilizers with nitrogen, phosphorus and potassium accounting for 16.2 percent of the import bill from China.

The mainland's A-share market will also attract a large amount of foreign capital that do not follow the indexes this year, given the market's current low valuation and supportive monetary policies, said Wang Ying, China strategist at Morgan Stanley, in an interview with China News Service.

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The major downturn comes after Tianjin's Binhai New Area said it had revised down economic output by around one-third in 2016, because the region has submitted fake figures.

The local government has also rolled out supportive measures in the form of cooperation agreements with institutes and universities like Nanchang University and e-commerce giants such as Taobao and JD.

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The market has become concerned over a potential hard-landing as the central authority tightens regulation on PPPs, and local governments called off projects to contain PPP-related risks.

The logistics backbone behind the upswing in China's retail sales is air cargo. Companies operate airfreight services along multiple routes between China and the countries of Europe along the "Air Silk Road," an aviation industry initiative inspired by the China-proposed Belt and Road Initiative. The underlying aim is to improve connectivity and foster a sustainable aviation economy.