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"China was the first country to fully recover. Look at the GDP (gross domestic product) data in the third quarter in seasonally adjusted terms, it has already reached the pre-crisis levels," said the chief China economist at the Paris-based organization.

"Commercial banks are suggested to better recognize and assess potential risks. Under a marketoriented interest rate system, they need to set prices of financial products based on different risk levels," said Xu.

"Chinese women are the beneficiaries of the rapid development, and contributors as well," she said.

"Chinese companies have been continuously increasing investment in Malaysia and actively deepening cooperation in areas like infrastructure and e-commerce. Meanwhile, the enthusiasm of Malaysian companies investing in China also continued to rise, with Malaysian enterprises expanding their presence in the commercial, manufacturing and other industries in China," the minister counselor said.

"China's manufacturing industry and logistics businesses typically shut down a week earlier and later than the official holiday period so employees can make the long journey home to the nation's vast interior," the report explained. "All in, the Lunar New Year can last up to 40 days thanks to the extended travel times and family reunions."