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"Companies cannot live without global supply chains as more than 50 percent of the international trade is between supply chains," he said.

"China today is flourishing due to the push from its public and private sectors. Although it was decided during the 'two sessions' not to set a growth target, they do focus on fighting poverty and preventing the pandemic from leading to job losses," said Gualda.

"Consumption will stay robust on the back of higher incomes and is expected to stay a pillar for economic growth next year," said Li Huiyong, an analyst at Shenwan Hongyuan Securities.

"Crucially, the effort has been complemented by large-scale testing, including the start of randomized screening in select provinces, and systematic tracking via mobile phone apps to rapidly trace the contacts of any new positive cases," the experts noted.

"Coming as it does in the current context may add fuel to existing bilateral flames," Paal, now a distinguished fellow in the Asia Program at the Carnegie Endowment for International Peace, told China Daily. "It's the context of the US election and not the report that is crucial."