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"China's economy is increasingly driven by domestic demand, so it is important that consumer spending has continued to bounce back," Rothman said, adding the improvement in consumer spending and sentiment has come in advance of a full recovery in income, suggesting a fairly high degree of confidence in the future.

"Considering that the Chinese economy has not yet completely returned to normal, those industries and companies hard-hit by the pandemic are still facing relatively high pressure, and their ability to repay loans continues to weaken," said Belinda Zhang, PwC China financial services partner.

"Chinese consumers have a true love for the extreme end of our sophisticated collection. When it comes to our most advanced products - the made-to-measure offerings - China accounts for more than 50 percent of our global sales," he said.

"Chinese consumers are learning more and more about wine. That is good for Argentina because our country wants to position itself within a segment of high-end reserve wines, to publicize the quality of Argentine wines and not compete in prices with other countries," said Perinetti.

"Compared with previous policy tools, the newly-developed instruments are more market-oriented, inclusive and direct," the central bank said.