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As the "City of Metal," Yongkang now has more than 10,000 businesses in the hardware business, involving electric tools, kitchenware and thermal cups, becoming China's largest base for manufacturing, trading and exporting of hardware products.

As the country faces increasing downside growth pressure, the job market may come under heavier pressure in the fourth quarter and policymakers may start to make the macroeconomic policies more pro-active, said Wang Yupeng, chief macroeconomics analyst at Dongxing Securities.

As the Chinese market grows bigger and more mature, immeasurable purchasing power will be created, which will provide wider markets both for China and the world, Wang added.

As the international community observes this year's World Population Day on July 11, policymakers across the world, especially in Asia, face a demographic paradox.

As the supply of blood has increased, its safety has also improved, he said, adding that transmission of serious infectious viruses, such as HIV, through blood transfusions has essentially been eliminated in China because of improved testing technologies.