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"Cutting the RRR is the best way in the current situation to reduce actual bank lending rates as it may increase the supply of low-cost funds for banks" and then increase credit especially for small and medium-sized companies, according to Lu.

"Difficulties make me stronger sometimes," she said. "When I hit a low point in my life and career, I will think over whether I really want to do what I'm doing and whether there is anything to improve. Some people may choose to escape from hardships, but I'm too persistent to give up."

"Energizing the market is a key step in countering the downward economic pressure. We will continue with the tax cuts and reform of government functions for a better business environment in China," Li said.

"Even if TikTok were to be banned in the US, which I think is unlikely to happen, users would find a way to keep using it," she said. "They are incredibly loyal and protective of TikTok."

"Even under such a restriction, the number of tourists from other provinces has, since July 17, reached 80 percent of what it was during the same period last year," Lu said. "There is no doubt that we will receive more visitors from all over China in the future."