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"China's economy will steadily regain momentum over the next few quarters, ending 2021 around 6.7 percent, above the level in the fourth quarter of 2019," said Madhavi Bokil, an analyst with the Moody's Investors Service. "This year, we forecast that China will be the only G20 country to post (positive) growth."

"Couldn't be happier," Hoskins said.

"Compared to the first half of this year when liquidity was adequate, economic recovery has become the new theme of the market. Therefore, undervalued companies and cyclical sectors may provide the maximum opportunities," he said.

"China's countermeasures do not intend to purely pursue equivalence in the same amount as the US tariff rates. The latest four-level tariff rates have much more flexibility," said Gao Lingyun, a researcher of Institute of World Economics and Policies at the Chinese Academy of Social Sciences.

"Currently, we see a little bit of easing of monetary policy, but it is still in a neutral position, which fits the macroeconomic situation quite well," said Zhu.