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"China has a firm stance to promote globalization amid protectionism threats," said Yuan Feng, head of the foreign investment department of the National Development and Reform Commission. "Recent efforts to ease or cancel existing restrictions on foreign investment in many fields demonstrate our determined willingness to continue promotion of opening-up."

"China has an edge over many other countries in terms of promoting the development of open banking, since Chinese bankers are embracing change with an open mind," Wang said.

"But this crisis is not simply about liquidity. It is primarily about solvency -- at a time when large segments of the global economy have come to a complete stop. As a result, fiscal policy has a vital role to play," he said.

"ChiNext-listed companies are going to benefit the most from the new rules. According to a rough estimate, the removal of the profitability requirement will make at least 125 ChiNext-listed companies eligible for refinancing and the removal of the debt-to-asset ratio requirement will make 535 of them qualified for share sales," Ma Tingting, an analyst from Guosheng Securities, said in a research note.

"But when I got older, I started to appreciate the beauty of handmade lanterns. I also got a sense of satisfaction from seeing my own creations."