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"China has made tremendous progress in the culture and creative industry over the past 40 years — especially in the areas of design, fashion and modern art," Howkins said.

"By consulting with a doctor online, they had a better-than-expected user experience, which turned out to be excellent market education for online hospitals, bringing great growth potential to the sector," said the report.

"Challenges still exist including changes in the external environment and corporate financing difficulties. However, these will not change the stable and positive trend, and financial risks are controllable as China's macro-control policies will gradually take effect," noted Zhang.

"COVID-19 is not behind us and we must resist confusing reopening with returning to normalcy," officials of the American Medical Association, American Nurses Association and American Hospital Association said in the plea.

"But, to be clear, we do not see a recession in the near term. In fact, we expect some pickup in growth in the second half of 2019 and into 2020," she said, adding that the growth is set to benefit from the now more-patient pace of monetary normalization by major central banks led by the US Federal Reserve and "from increased stimulus, in China for example".