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"Consumer goods account for only 15 percent of China's total trade volume, but in developed countries it's 30 to 40 percent," he said.

"Chinese authorities have not used the exchange rate in prior easing cycles to support growth, and they are unlikely to do so now, as this could pose macroeconomic stability risk," said Andrew Fennell, lead sovereign analyst for China at Fitch Ratings.

"Compared with traditional retail business, tailored production will have no pressure of overstocked products. Besides, the demand is continuous," he said.

"Covid-19 will need to break through the job market firewall if it is to do significant damage to the economy," Mark Zandi, chief economist at Moody's Analytics, said in a statement. "The firewall has some cracks, but judging by the February employment gain it should be strong enough to weather most scenarios."

"Cooking gas prices have gone up, sending children to school is expensive. It's difficult to run the household. I want the new government to think about middle classes," she said.