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"Chinese companies are capable of making most aircraft components, but are less competitive due to higher costs and the design and quality can't catch up," Shanghai Securities Journal quoted an unidentified senior aircraft engineer as saying.

"Chinatown has been going downhill since 10 years ago. It only got worse in the past two or three years," said Raymond Hong, 58, owner of Rainbow Photography.

"China will succeed in building a moderately prosperous society in all respects this year, with health becoming a huge industry," said Li Hua, deputy director of the Zhejiang Provincial Sports Bureau.

"Chinese policymakers will have to be ready to support growth and financial stability if needed. Given the global nature of the outbreak, many of these efforts will be most effective if coordinated internationally," said Helge Berger, assistant director of the IMF's Asia and Pacific Department.

"Clearly June 18 being a shopping period rather than a day aims to provide customers with ample time to make purchase decisions, which is also a way to set it apart from the Singles Day," said Neil Wang, president of consultancy Frost & Sullivan China.