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As the concept evolves from jargon to practice, China's tech giants are busy throwing their hats into the ring. First, it was Alibaba Group Holding Ltd that pitched its tent. It has clinched a flurry of stake-controlling deals, from InTime Retail to RT-Mart, or built its own retail prototypes like the Hema Fresh Market in order to take on existing physical stores.

As the companies' business scopes vary, more of the quantum firms are potential unicorn companies and are also looking to be listed for public trading, said Lyu. He said more of such companies have been founded in recent years.

As structural deleveraging is mainly directed against the current imbalance in China's economic development, Kang said leverage should be moderately increased in infrastructure investments on areas such as roads, railways and sewer systems and further reduced in industries of overcapacity and low efficiency.

As the country continues to battle the novel coronavirus, small and medium-sized enterprises in Zhejiang province have been busy normalizing their operations to pave the way for an anticipated pickup once the epidemic ends.

As social networks and online stores have become increasingly important tools for wildlife smugglers, the administration has beefed up its anti-smuggling work online this year.