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An old song in Pudong goes: "There was a mud road along the Huangpu River, which flowed through the mud town. People passing there would get mud on their clothes."

An offshore intermediary trade services center was officially launched in the Shanghai FTZ on April 13. Demand for intermediary trade－a novel commercial form in which the transport and delivery of goods takes place overseas while settlements are dealt with domestically－has been on the rise among multinational companies in the Shanghai FTZ.

Analysts said the moves will not only help offset this year's economic headwinds, but also spur long-term growth by revitalizing market entities and deepening economic restructuring.

Analysts at China International Capital Corp Ltd said in a research note that A-share valuations could be more attractive after the latest correction and the stock prices will likely be supported by the listed companies' earnings improvements.

Analysts said that given the Chinese leadership's strong determination and steady growth of the economy, the deleveraging was unlikely to reverse.