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"From right where he was standing, he doesn't chase anybody, he fires from where he is until he shoots himself," Wegener said.

"Four decades of reform and opening-up have shown that, on the basis of certain developments, only opening up can invigorate the market, force companies to innovate and integrate Chinese and international resources," the commission said.

"For most of my generation, striving to leave this impoverished village was our common goal when we were young," Zhang said.

"Given the overall impact (of the epidemic) should be short-term, bottom fishing on oversold quality names makes sense," said Lynda Zhou, chief investment officer for equities in China at Fidelity International.

"Financial technology is at the forefront of the new economy, and its development is greatly affected by factors including policies and regulations. Compared with their US counterparts, Hong Kong's stock exchange executives hold a more prudent attitude toward certain types of fintech companies, such as those focusing on blockchain technologies, due to market uncertainties in this field. It will still take time for mainland fintech companies to make business innovations and improve operational performance after they have met IPO application requirements in the US and Hong Kong," said King Li, TMT assurance partner at EY.