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Analysts said the weak data may prompt the Federal Reserve to consider further reducing interest rates.

And given the global economic recession as a result of the COVID-19 pandemic and the mounting uncertainty in the international landscape, analysts said innovative development of the special economic zones could play a bigger role in accelerating the formation of the new development pattern with the domestic market as the mainstay and the domestic and international markets complementing each other.

Analysts said that abundant real estate projects, expanded presence in second- and third-tier cities and strong operation skills enabled property developers to achieve the outstanding results.

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.

And some want more than package tours. Zhang, the Beijing retiree who has been traveling with agencies, plans to try a self-guided tour next time. "Traveling makes me feel young again," he said.