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Apart from compensation and incentives for replacing outdated capacity with clean and effective capacity, the authorities should adopt more proactive policies to help axed capacity make arrangements for staff deployment, assets and properties transactions, and debt handling, according to Wu Lixin, deputy director of the strategic planning research department at the China Coal Research Institute.

Another player, Jiedian Technology, in May received a 300 million yuan investment from Jumei.com, one of the biggest online beauty production retailers.

Ant Financial, operator of the world's leading payment platform Alipay, said in a statement that Alipay will work with WorldFirst to better serve global small businesses, promote inclusive finance and contribute to sustainable development in the world.

Apart from pinpointed support for affected small businesses, the nation is expected to accelerate fiscal support to expand domestic consumption and investment, especially in new types of infrastructure and urbanization, to counter uncertainties in external demand, Liu said.

Apart from attracting foreign capital, China effected changes to rules on permanent residence for foreigners in April. The reform serves the country's talent development strategy, which is to attract more innovative and entrepreneurial talent.