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And the most immediate challenge is the impact of COVID-19 on the economy, which may lead to labor dislocation and slower growth in household incomes.

Analysts said that authorities move to ban ICOs is not surprising given that ICOs, with strong liquidity and great risk exposure, have little positive influence on and relevance to the real economy, and it may be the start of further strengthened regulation over crypto-coin trading in the market.

An operator controls the fire fighting robot at a workshop of Anshan Hengye Special Vehicle Manufacturing Co Ltd in Anshan, Northeast China's Liaoning province, on April 14, 2020. This new all-terrain fire fighting robot has excellent off-road performance as well as detection and analysis capabilities. [Photo/Xinhua]

Analysts said Didi's active performance in recent months also indicated that it may be preparing to go public in the near future, though the company said it did not have any such plans yet.

Anglee, a skincare product maker, which established its facility in Guangzhou in 1991, has opened three medical cosmetology shops in Guangzhou and aims for an initial public offering in the mainland to fund more such shops, which are also beauty parlors, said chairman Aaron Lin.