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"Factors including weak demand, lower prices of industrial products and rising costs led to the fall in profits," said NBS senior statistician Zhu Hong.

"Developments in Sino-US trade frictions may cause fluctuations in cross-border flows, but the influence should be limited as market participants have got used to twists and turns in trade talks," Liu added.

"E-commerce sales are an innovative channel for developers to seek potential buyers, which may help combat downward pressure," said Yan Yuejin, research director at the E-House China R&D Institute.

"Digital health is playing an increasingly important role in this fight. Thanks to previous communication and exchanges through online platforms, overseas TCM professionals mastered the spread of the epidemic situation and the frontline diagnosis and treatment methods in time, getting fully prepared for combating the epidemic," He said.

"During the most severe period of COVID-19 in the first quarter and after the Chinese New Year, the top three airlines lost about 100 million yuan each per day. But since the second quarter, things have improved thanks to the effective measures to contain the contagion in China," said Chen Zhuo, a senior analyst with China Merchants Securities.