As is the case with Japan that experienced a decades-long economic slump after the "bubble burst" in the 1990s, Chinese people have become more willing to save rather than spend their money in the wake of the coronavirus crisis.

A propensity to save, in general, would weigh on corporate profits with consumer spending shrinking, which could prompt companies to cut payrolls and slash employment. Such a move would put downward pressure on the broader economy.

In China, meanwhile, the Communist government led by President Xi Jinping has been trying to prop up the virus-hit economy by increasing public expenditures and stimulating state-owned firms to boost investment.