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And a new expressway linking Hengqin to the Hong Kong-Zhuhai-Macao Bridge is expected to be completed and put into use in the first half of next year.

Analysts hold there is room for further tax reductions through measures such as lowering corporate income tax and expanding the scope of expense reductions for enterprises. Currently, China has three brackets for value-added taxes at the ratios of 17 percent, 11 percent and 6 percent respectively. The country can reduce the three brackets into two in the future, analysts suggest.

Analysts expect the bank to further ease policy to help cope with slowing growth and offset the effects of a crackdown on shadow banking. However, while non-bank shadow institutions are being squeezed for money, the Beige Book reports that companies are still borrowing heavily, and interest rates have fallen, which should lower repayment costs.

Analysts from S&P, for example, estimated Tuesday that the virus could lower China's GDP growth to 5 percent, while others predicted only short-term minimum impact.

Analysts said the SCI is likely to end the year around 3,400, implying a 7.6 percent rise for this year.