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"Commercial banks have a major responsibility to develop green finance to support the transformation and upgrading of China's economic structure," said Zeng Gang, director of banking research at the Chinese Academy of Social Sciences' Institute of Finance and Banking.

"China stands ready to work with Japan's new leader to continue to abide by the principles and spirit set in the four political documents between the two countries, deepen cooperation in fighting the COVID-19 pandemic as well as economic and social development, and promote the continuous improvement and development of China-Japan relations," said Wang.

"China's rejection will only push the global waste recycling technologies to make breakthroughs," he said. "Yet, for some countries that habitually export solid rubbish to China, it is hard to accept this reality."

"China's fiscal package is modest compared to global peers," said Zhu Haibin, JPMorgan chief China economist. "The important difference is the composition of the fiscal package. China's fiscal package includes a higher share of stimulus component-fiscal support for investment activity that creates new jobs."

"China, for most of the time, surprises you in a good way," he said.