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"China has entered a stage of stable leverage as the country's deleveraging efforts have delivered primary effects," Liu Shijin, vice-president of the China Development Research Foundation, a government think tank, told the Economic Daily.

"China has been the relative winner, with its stock markets weathering the virus better than its US and European counterparts," said Rupert Hoogewerf, Hurun Report chairman and chief researcher.

"China is the world's second-largest luxury market, and we are delighted to have such a respected partner. This partnership addresses the market's challenges by combining the Farfetch brand and curation with the scale and influence of the foremost Chinese e-commerce giant," said Jose Neves, CEO of Farfetch, which raised 0 million in 2016 in a Series F round of funding.

"China market growth is outpacing many other regions. We've separated the China market from the Asia-Pacific as an independent market region," Cher said.

"By integrating the advantages of the socialist system and market economy, China can fully unleash the vitality of the market and at the same time ensure stable operation of the economy to avert economic crises," He Zili, a professor at Nankai University School of Economics, wrote in an article.