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"China's anti-corruption drive has played an essential role in consolidating the country's political stability and has boosted people's confidence in sustainable social and economic development," he said. Jiang said the current high level of pressure being applied against graft is expected to last even though a new CCDI is expected to be elected at the 19th CPC National Congress.

"China's development and progress is a long-term certainty, which offers the most important external environment for foreign businesses to work with China," Wang said.

"Countries in East Asia and the Pacific that were already coping with international trade tensions and the repercussions of the spread of COVID-19 in China are now faced with a global shock," said Victoria Kwakwa, Vice President for East Asia and the Pacific at the World Bank.

"Companies can locate any projects that are in line with market rules and legal norms in the city, regardless of their business scale, industries and sources of the investment," Wang said. They can also enjoy timely and tailored services during the site selection, construction, development and operation of their investment projects, she added.

"Clearly, artificial festivals like Dec 12 play a role in boosting discretionary spending. Elements of the festival, such as countdown shows and celebrity endorsements help to drum up the mood for spending," Qi noted.