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"China is doing something that has never been done in the history of the world. A large country like China has expanded economic growth at a high level for decades," he said.

"By virtue of big data and artificial intelligence, the offline stores could better capture consumers' shopping habits and preferences, and make accurate recommendations," Chen noted.

"But, today, this message from the IEEE about replacing all reviewers from Huawei in IEEE journals challenges my professional integrity. I have to say that, as a professor, I don't accept this. Therefore, I have decided to quit from IEEE editorial boards until it returns to professional integrity."

"But manufacturers of consumer products saw more rapid increases due to the upcoming Spring Festival holiday," he said. Sectors including farm produce processing, food and beverages, textiles and garments, and medicine witnessed robust growth.

"China may increase the interest rates for open market operations following the possible US rate hike, but in a moderate way, a similar move as it took in December and March," said Yang, who also suggested a further cut in the cash that banks set aside as reserves when liquidity risk increases.